Investors had gleefully high hopes after Trump's election, and his supporters were very quick to credit him with the stock market’s post election jump. Even Trump publicly patted himself on the back via Twitter when it surpassed 20,000 for the first time ever.
Trump has not done ONE SINGLE THING right yet, and with the humiliating loss of trumpcare on Friday, investors are having serious doubts. I'm not invested in the market but even though I feel bad for small investors and IRAs and pensions, it's hard not to feel some schadenfreude here
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.
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