Last Friday saw some sharp declines in the stock market. Without missing a beat, the same trend reared its ugly head Monday morning soon after the opening bell sending stocks plummeting down near 5%, losing 1,841 points.
This marks one of the sharpest declines in the stock market, certainly the worst few days the market has seen since 2016.
While the market does still remain higher than it was last year due to government economic policies, there is still uncertainty in the market for a variety of reasons.
Since now President Donald Trump took office, both the S&P 500 & Nasdaq composite is up, even still after the two rough days of trading and major selloffs.
Monday afternoon on Fox Business’ “Countdown to the Closing Bell” show, Bob Doll commented that the past two days of trading were evidence of technical issues rather than fundamental market challenges or worry. Doll is the Chief equity strategist at Nuveen Asset Management.
While there are a lot of fingers being pointed and blame being circulated around as to what the exact reason is for the tumble, all major investors and analysts are dubbing this rough patch as nothing but a small bump in the road. The economy is still strong and according to many, the strong economic cycle we are in is far from over.
The only question that remains on the minds of investors, the GOP and the Left is whether President Trump will take any type of responsibility for the tumble. He has taken understandable accountability for he rise in the market. It will be interesting to see how he plans to calm the proverbial market storm currently pounding Wall Street.