'It felt like politics really wasn’t moving markets too much until today.'
The threat of impeachment is back, and this time investors appear to be paying at least some attention.
Other factors were also at work, including some downbeat consumer confidence data and a Trump speech at the United Nations that wasn’t exactly warm and fuzzy when it came to U.S.-China trade negotiations. I am currently at the United Nations representing our Country, but have authorized the release tomorrow of the complete, fully declassified and unredacted transcript of my phone conversation with President Zelensky of Ukraine....
Before investors get too worked up, however, Hogan said it’s important to remember that initial market reactions to headlines these days are largely driven by computerized trading programs. Once the knee-jerk reaction is out of the way, it will be easier to assess just how concerned investors really are.
And there are plenty of unknowns to sift through. At present, it appears unlikely a Republican-controlled Senate would convict Trump. And, as Valliere noted, that fact is seen as a top reason why Pelosi has until now been reluctant to press ahead with impeachment, preferring to “defeat Trump at the ballot box instead of giving him an excuse to claim that he’s being hounded by pro-impeachment leftists.
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