The market was operating on momentum from the Obama years. Trump did everything in his power to fuck it up, which he finally accomplished by exploding the deficit by tax handouts to the rich and corps, a 25% tariff to punish american consumers, etc. But then again, you sort of neglect to look at the facts, you make up an opinion and then think up a correlation that is not even remotely causal.
ForReal, Markets are volatile for a number of reasons.
"Democrats win House; Market gives back all it's gains. Way more logical and representative of what happened."
Yours is simply a narrow, mindless, invalid and uninformed talking point.
The source of all this stock-market angst is manifold. MarketWatch has previously outlined many reasons for worry but it bears repeating: The overarching theme is that investors are concerned about slowing growth here and abroad and the impact of tariff clashes between the U.S. and China.
[INSERT: .. from link .. "That's a fairly dour outlook. FOMC participants aren't buying the supply-side story that tax cuts may boost productivity. So they feel compelled to raise rates to slow the economy to its long-run potential, with the aim of keeping inflationary pressures from rising as a consequence of the short-run stimulative impact of Trump's tax cuts. No wonder Trump isn't happy with Powell. He probably regrets not having extended Janet Yellen's employment contract."]
* Rising interest rates that could make borrowing more expensive
* A slowdown in global economic growth exemplified in China weakness
* An overall breakdown in stocks, represented in equities trading at multimonth lows
* Midterm election jitters, which have seasonally resulted in some jitters in U.S. markets
* Seasonal October volatility, which has tended to translate into choppy trade
* Worries that the U.S. economy is in the late stages of its expansion and due for a recession
* Brexit
* Italy’s budget crisis
* The looming end of quantitative easing in Europe
* The political implications of the killing of dissident journalist Jamal Khashoggi
* Worries about the health of emerging markets outside of China.
* Signs from U.S. companies that they are see earnings growth slowing
* U.S.-China trade relations which may be exacerbating Beijing’s economic malaise
* Growing deficits partly derived from President Donald Trump’s corporate tax cuts in 2017
* Weakness in the banking sector which hasn’t benefited from rising interest rates
* Softness in transports which Dow theorists tend to follow as a gauge of the health of the market
* A rotation of investors out of growth stocks and into those names viewed as value
See again: Trump’s Potemkin Economy [...] Just to be clear, the U.S. economy is still doing quite well overall, continuing the long expansion that began during Obama’s first term. Those of us who thought the economy would be hurt by political uncertainty have been wrong so far.
But Trump’s actual policy initiatives aren’t doing so well. His tax cut isn’t producing the promised surge in business investment, let alone the promised wage gains; all it has really done is lead to a lot of stock buybacks. Reflecting this reality, the tax cut is becoming less popular .. https://www.thefiscaltimes.com/2018/06/25/GOP-Tax-Cuts-Getting-Less-Popular-Poll-Finds .. over time.
And the early phase of the trade war that was supposed to be “good, and easy to win” isn’t generating the kinds of headlines Trump wanted. Instead, we’re hearing about production shifting overseas to escape both U.S. tariffs on imported inputs and foreign retaliation against U.S. products. It’s really worth reading the submission by General Motors .. https://www.regulations.gov/document?D=DOC-2018-0002-1991 .. to the Commerce Department, urging a reconsideration of a tariff policy that “risks undermining GM’s competitiveness against foreign auto producers” and “will be detrimental to the future industrial strength and readiness of manufacturing operations in the United States.” In other words, “Don’t you understand global supply chains, you idiot?”
Actually, I’m waiting to hear that GM is really a Democratic company in league with the deep state.
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