ECONOMY: “U.S. stocks and the dollar sold off and bond prices rallied on Wednesday [5-17-17] as investors fled risky assets amid uncertainty about U.S. President Donald Trump’s ability to deliver on tax and regulatory reform.
Reports that Trump asked then-FBI Director James Comey to end a probe into the former national security adviser have raised questions over whether Trump tried to interfere with a federal investigation.
U.S. stock market declines picked up in afternoon trading. The Dow Jones Industrial Average was down more than 300 points and the CBOE Volatility index .VIX – Wall Street’s fear gauge – rose above the 14 level for the first time since April 21.
The S&P 500 was on track for its worst day since September. The dollar index .DXY has erased its post-election gains.”
-Caroline Valetkevitch, “Stocks, dollar sink as investors rethink ‘Trump trade’,” Reuters, May 17, 2017 3:12pm