Global markets sold off overnight, US Treasuries rallied the most since Brexit, and volatility spiked higher as the turmoil surrounding the Trump administration roiled financial markets around the globe. We noted just yesterday that the US market had been unusually calm, and this calm patch was broken yesterday as the US market fell nearly -2%, the biggest daily fall in months.
The sell-off has been driven by controversial reports regarding the conduct of US President Donald Trump which allege he asked then-FBI Director James Comey to end a probe into the White House's former national security adviser, and raised questions over whether obstruction of justice charges could be laid against Trump.
Concerns around US President Donald Trump's administration hit investor sentiment, and at the very least if Trump is preoccupied defending himself (and if it goes a lot further), then any hope of his pro-growth legislative agenda being implemented in a relatively qui...
Stock Markets, Simplified.