Have we seen the end of this correction?
All US futures are green right now: https://finviz.com/futures.ashx
U.S. stock markets suffered their steepest Christmas Eve decline in decades Monday, defying the best efforts by the Trump administration to instill confidence, and coming very close to ending a record 10-year upward run.
By the end of Monday’s shortened holiday trading session, the great bull market that began in the lows of March 2009 lay lifeless, capping a three-week, 16 percent sell-off of the S&P 500.
President Trump and administration officials faced intense scrutiny of their unorthodox attempts to steady nervous markets. Treasury Secretary Steven Mnuchin’s phone calls Sunday to major U.S. banks further stoked anxiety among traders, while Trump’s Monday tweet attacking the Federal Reserve for not having “a feel for the Market” appeared to exacerbate the day’s sell-off.
Investors have been shaken by recent economic and political developments, including the abrupt resignation of Defense Secretary Jim Mattis; a partial federal government shutdown; an interest rate hike by the Federal Reserve; speculation that Trump might seek to fire Fed chief Jerome H. Powell; Mnuchin’s unusual calls to U.S. banks; and Trump’s sudden decision to withdraw U.S. troops from Syria against the counsel of his national security team.
Do you think the stock market will continue to tank?
Or have we seen a bottom in this area?
Submitted December 26, 2018 at 06:49AM by gorillaz0e http://bit.ly/2AgX5vT
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