Excerpt from Politico
By BEN WHITE
10/03/2019
Stocks keep tanking — The Dow is down about 800 points over the last two days. President Trump blamed Democrats and the impeachment battle but it’s much more complex than that. The sharp declines began with the terrible manufacturing number.
Market analysts MM spoke to attributed the swoon to trade war impact as well as the possibility that Sen. Elizabeth Warren (D-Mass.) could emerge as the next president. The other big issue: Trump’s totally unpredictable response to impeachment pressure.
Cumberland’s David Kotok tells MM of the sell-off: “Impeachment, the trade war and failing foreign policy under Trump’s US leadership (Iran, Saudi, North Korea, Venezuela, etc) are coalescing. Fed bashing hurts Trump. Blaming everyone else is now a failing strategy for Trump. He can save himself with a trade deal but time is running against him. Market smells a Trump loss and a Warren victory.
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