First Trump loss shakes up market
Friday was the first major test (and fail) for President Trump and the markets are feeling it.
Trump has never been one to shy away from big talk, and with a largely Republican Congress it seemed that he had the power to back it up, but that came crashing down with Friday's painful defeat of his healthcare initiative. This loss throws Trump's ability to pass any of his initiatives, especially those on tax and spending, into question.
Traders have been giving Trump the benefit of the doubt, preventing major losses for the USD after the election, but 2017 saw a change of heart. The Dollar is now down over 4% since the beginning of the year despite an interest rate raise and positive economic indicators, while Gold is holding its 1.4% gains. The S&P 500 saw its worst week and seems headed for its worst month since the election last year.