The U.S. stock market "already assumes" President Donald Trump will be impeached, strategist Boris Schlossberg told CNBC on Wednesday. Ahead of the latest Trump controversy, Art Hogan, chief market strategist at Wunderlich Securities, on Tuesday tried to explain the muted market reaction to political turmoil. And perhaps it's not because the market thinks there's a constitutional crisis but it already assumes impeachment," Schlossberg, who has been a frequent Trump critic, said on "Squawk Box." Also on the show on Wednesday, Jack Welch, formerly CEO of General Electric who's close to Trump, said an impeachment "would blow the market away." "Why such a muted reaction in all the markets against the news today?
as declared in Jack Welch: Impeachment of Trump would 'blow the market away' 4 Hours Ago | 00:45Jack Welch, the former CEO of General Electric who has President Donald Trump's ear, told CNBC on Wednesday that an impeachment would crush the stock market. "An impeachment proceeding would blow the market away," Welch said on "Squawk Box." The botched Comey firing is an example of Trump's inexperience in running a bureaucracy, the executive chairman of Jack Welch Management Institute said. Welch also said Trump's firing of James Comey as FBI director was a "rookie mistake." He added, "You don't make any friends doing it the way [Trump] did it."
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as declared in Jack Welch: Impeachment of Trump would 'blow the market away' 4 Hours Ago | 00:45Jack Welch, the former CEO of General Electric who has President Donald Trump's ear, told CNBC on Wednesday that an impeachment would crush the stock market. "An impeachment proceeding would blow the market away," Welch said on "Squawk Box." The botched Comey firing is an example of Trump's inexperience in running a bureaucracy, the executive chairman of Jack Welch Management Institute said. Welch also said Trump's firing of James Comey as FBI director was a "rookie mistake." He added, "You don't make any friends doing it the way [Trump] did it."
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Trump trade in banks, infrastructure leads market lower
Post-election market leaders fell the most Wednesday as traders worried that the Trump administration might not be able to fulfill its pro-growth promises. "It stands that the sectors that psychologically benefited most form the Trump administration would be the ones hit today," Pace said. Financial stocks had mostly led post-election market gains as the industry was set to benefit the most from corporate tax cuts, deregulation and a rise in interest rates. Financials such as Citizens Financial, Charles Schwab and Bank of America were among the 10 worst performers in the S&P 500 Wednesday morning. Late Tuesday, news broke that Trump allegedly asked recently fired FBI Director James Comey to "let go" of the investigation into former national security advisor Michael Flynn.read more visit us Markets
collected by :Jack Luxor
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