DOW/ECONOMY/TRUMP AS PRESIDENT: “Wall Street no longer believes President Trump’s agenda is a slam dunk.
The Dow slumped more than 125 points Monday morning as Trump’s stunning failure to repeal and replace Obamacare has spooked investors.
If the losses hold and the Dow ends down, it would be an eighth-straight down day. That hasn’t happened since 2011.
The market retreat is a reflection of rising fears on Wall Street that Trump’s bold promises of sweeping tax reform, regulatory relief and infrastructure spending is in doubt. Investors have begun to contemplate that the Trump agenda will be delayed, watered down or even derailed.
‘Global financial markets are in a risk off mode after the political spectacle that unfolded last week on Capitol Hill,’ analysts at Rabobank wrote in a report on Monday [3-27-17].”
-Matt Egan, “The Trump stock market rally is under siege,” CNN Money, CNN.com, March 27, 2017