• Breaking News

    Saturday, August 19, 2017

    Week of U.S. political drama hurts stocks, dollar

    NEW YORK (Reuters) - Wall Street indexes and the U.S. dollar ended a volatile session lower after a week of drama in Washington intensified doubts about President Donald Trump's ability to deliver on pro-growth policy promises such as tax reform.
    After a late morning boost on Trump's firing of controversial White House strategist Steve Bannon, the dollar and U.S. equities lost their lustre as investors were left wary after a week in which Trump alienated potential allies.
    Investors also questioned how much Trump's ouster of Bannon - a conservative media entrepreneur and activist who was a darling of Trump's base - would pave the way for policies such as tax reform. [nL2N1L4106]
    "It's only marginally positive as it doesn't put money in anybody's pocket in the way tax reform would," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. "There's still question marks on what this means and what other shoes are to drop."
    Investor worries deepened about Trump's ability to deliver tax reform after he upset Republican colleagues, corporate leaders and overseas allies over his response to protests in Charlottesville, Virginia.
    Trump drew fire after he seemed to equate protests by white nationalists with those of anti-fascist groups on Tuesday and then on Thursday decried the removal of statues that memorialize Civil War-era defenders of slavery.

    1 comment:

    1. hello there and thank you for your information – I've definitely picked up something new
      from right here. I did however expertise a few technical issues
      using this site, since I experienced to reload the website a lot of times previous to I could get
      it to load properly. I had been wondering if
      your hosting is OK? Not that I am complaining, but sluggish loading instances
      times will sometimes affect your placement in google and could damage your quality
      score if advertising and marketing with Adwords.

      Well I am adding this RSS to my email and could look out for much more of your
      respective interesting content. Make sure you update
      this again soon.


    share your thoughts with us


    Get in Touch

    Feel free to drop us a line to contact us

    Follow by Email


    Travel for Free!