(+) Daily Analysis: Stocks Turn Lower as Trump Gets in Real Trouble

Wednesday Market Recap

 

US stocks are sharply lower today after a swift overnight decline that was triggered by the words of fired FBI director Comey regarding Donald Trump. This latest scandal is probably the most serious so far for the POTUS, as several high-ranking Republicans have voiced their concerns already. Risk assets are under pressure globally in the wake of the events, as the odds of an impeachment has risen significantly. Asian and European equities are also lower, while safe haven assets are on the rise. Economic releases took the backseat amid the slump, with only British assets getting a slight boost from the better than expected Employment Report.

The Yen surged higher together with gold today, while the Dollar lost ground against most of its major peers. Commodity-currencies are even weaker than the USD, as the Chinese stock market fell once again, and the general risk-off sentiment is also hurting them. The Euro and the Pound are also just slightly higher after the strong rise of the previous days, with the Swiss Franc being the most bullish of the European currencies. The strongest decline in risk assets since mid-March might continue in the coming days, especially if US economic

Read more ... source: CryptoCoinsNews

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