Wall St. hits six-week low on Trump's healthcare bill defeat

[DonViejo]

Source: Reuters



Mon Mar 27, 2017 | 10:03am EDT

By Yashaswini Swamynathan

Wall Street main indexes hit their lowest levels in six weeks on Monday after Republican's pulled a healthcare bill, raising questions about President Donald Trump's ability to deliver on his ambitious economic agenda.

The bill, which was set to overhaul the Affordable Care Act, or Obamacare, was Trump's first major legislative move.

Bank stocks, which had outperformed in the post-election rally on bets of tax cuts and simpler regulations, took a beating on Monday.

Bank of America (BAC.N) was down 3.6 percent and JPMorgan 2 percent (JPM.N), with the two stocks being the biggest drag on the S&P 500.


Read more: http://www.reuters.com/article/us-usa-stocks-idUSKBN16Y194

[Bengus81]

1. The DOW has been dropping since March 1st.......

This is just a continuation and now down 639 points since then. That Trump "rally" was just PUMP and DUMP nonsense to sucker in those who don't know how the game is played. The SMART money got out weeks ago.