Stocks fell at the open as concerns over the outlook for the global economy continued to weigh on investor sentiment even after the special counsel found no collusion with Russia on the part of President Trump.
Stocks fell on Monday as concerns over the outlook for the global economy continued to weigh on investor sentiment even after the special counsel found no collusion with Russia on the part of President Donald Trump.
"Economies in Europe and China continue to deteriorate causing uneasiness that the problems overseas could affect the U. S. markets," Bruce Bittles, chief investment strategist at Baird, wrote in a note."There are signs that our economy is not as robust as last year such as the decline in capital spending in the third and fourth quarters of last year."
Mueller's investigation had been a lingering concern for investors as it could have hindered Trump's efforts to further cut taxes and further ease regulations on corporations. The news removes a worry for Wall Street and can help the administration focus on more pressing issues for the market, such as striking a trade deal with China or even working with Democrats on an infrastructure plan.
Investors across the world worried the probe could also bring down Trump himself by potentially leading to his impeachment. Now, Wall Street can remove one block from the proverbial wall of worry and eye the ongoing U.S.-China trade talks.
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