Worries of what was going to happen to the stock market , were much like the election: Projections were wrong.
An overnight fear as President Trump became a reality caused a slash in futures and a small panic across the globe. But, this morning as the smoke clears, we find that ..so far… things are not nearly as bad as predicted.
As of 9:15 a.m. this morning, the Dow was up a few points nd then down a few points, NASDAQ and S&P also showed signs of holding steady to slight loss.
Steel, copper, industrials, pharmaceuticals all showing increases. Healthcare, oil, technologies all showing declines.
All of this after Dow futures fell initially 800 points and ended down at 190 overnight.
As for global economies, at one point the peso fell more than 10% against the dollar. In Asia, the Nikkei was down 4% at close.
Most investors are being seen hoarding money into gold and bonds , but so far overall it’s not anywhere near the disaster predicted.
Now is the time for President Trump to come out and show humility and confidence. Wall Street must get over itself, accept the loss and move forward.
