Global stocks follow Wall Street tailspin driven by US political turmoil.


View the original article: https://www.rt.com/business/388808-markets-dollar-investors-us-politics/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

European and Asian markets are taking a battering on Thursday after the biggest Dow Jones selloff in eight months a day earlier.

Visit our new websites featuring all the news and latest technology that is about to change the world we live in forever

Beware of other sites you have never heard of giving you news, a lot of them are just wanting to feed you multiple popup adverts and malware

Visit us on facebook at https://www.facebook.com/notinthemainstreamnews/
We use all our content under fair use to compare who is Fake and who is not, we do not claim ownership at all, all stories are published by the owners as FREE RSS Feeds.

Othen.bizRegisteredgites.com Giteinfrance.biz – Simonothen.com = Northernsoulers.uk – LaBataille.co.uk

Investors fled riskier assets following accusations President Donald Trump was trying to stop the investigation of former national security adviser Michael Flynn.

Read more

Wall Street surges to record high on Trump's hint of 'phenomenal' tax cut

“With a growing chorus of Democrats accusing Trump of obstructing justice and even calling for his impeachment, the Trump administration could come to an early season finale,” wrote Lukman Otunuga, a research analyst with currency broker FXTM.

The Dow Jones industrial average closed 373 points lower, down 1.78 percent. The S&P 500 declined by 1.8 percent, while financials dropped 3.1 percent to lead decliners. The Dow and the S&P also recorded their worst day since September of last year, giving up their gains for the month.

“This is clearly Washington-driven. It’s a lot like 1998-99 when the market had to deal with the Lewinsky scandal,” said Michael Shaoul, chairman, and CEO of Marketfield Asset Management, as quoted by CNBC.

The US dollar index dropped to the lowest level since November and forced investors to look for safe heavens, dragging benchmark Treasury yields to about 2.21 percent and boosting both the Japanese yen and gold by two percent.

READ MORE: Gold price soars to 5-mth high on geopolitical unrest

“The news out of Washington is alerting markets to the rising implementation risk associated with the pro-growth policies that have already been priced into markets. The more this occurs, the greater the downward pressure on stocks, the dollar and government bond yields,” said Mohamed El-Erian, chief economic adviser to Allianz as cited by the FT.

The new session sees 10-year Treasury yields gaining three basis points to 2.25 percent and the US dollar slightly up to 97.61. S&P 500 futures are set to gain 0.5 percent. The yen dropped 0.5 percent to 111.38 against the greenback, while gold fell by 0.3 percent to $1,257 per ounce.

Oil retreated from overnight gains, which were boosted by news of US inventories dropping for six weeks in a row. Crude prices were down about 1.6 percent with Brent trading at $51.36 per barrel and WTI at 48.29 per barrel as of 11:15 am GMT.

READ MORE: $35bn hit: Zuckerberg, Gates among those to suffer massive losses amid Trump-Russia claims

The Wall Street selloff comes just two days after both the S&P 500 and Nasdaq closed at record highs. The Dow is still up about four percent so far in 2017 while the S&P 500 is up five percent.

In the same category are

Experts dig for Biblical tabernacle that ‘held Ark of the Covenant’ Archeologists searching for a structure that held the Ark of the Covenant have finished the first of a number of potential digs in the West Bank. The ...
Maduro to Trump: ‘Stop aggression against Venezuela, stop meddling in Latin American affairs’ The US must abandon its interventionist policy towards Venezuela and steer clear of the internal affairs of other Latin American countries, Venezuelan...
US sanctions against Russia may harm German companies – economy minister Published time: 27 Jul, 2017 07:02 New sanctions against Russia approved by the US House on Tuesday could harm German companies and hamper Berlin's ti...
Humanity at risk as sperm levels among Western men plummet to record low Chemicals, diet, stress, and lifestyle choices have caused the sperm levels of Western men to plummet to less than 50 percent of what they were four d...
Boris Johnson plays down Tory leadership bid rumors… again Published time: 26 Jul, 2017 10:14 Foreign Secretary Boris Johnson has once again played down rumors that he will launch another Conservative Party le...
‘Painful reply’: Russian senator urges asymmetrical response to fresh US sanctions The head of the Russian Upper House Committee for International Affairs has urged authorities to react to the US sanctions bill with asymmetrical hurt...
Netanyahu threatens to kick Al Jazeera out of Israel for ‘inciting’ Al-Aqsa protests Israeli Prime Minister Benjamin Netanyahu has accused the Jerusalem office of the Qatari-owned network Al Jazeera of fueling ongoing unrest at the Tem...
Wanted ex-Georgian president Saakashvili loses Ukrainian citizenship Ukraine’s migration service says President Poroshenko has revoked the Ukrainian citizenship of Mikhail Saakashvili, whom he picked as the governor of ...
‘Sophisticated’ Ethereum hack steals $8mn worth of cryptocurrency Published time: 26 Jul, 2017 10:16 Hackers struck the Ethereum platform twice in consecutive weeks – this time stealing more than $8 million worth of ...
Lawsuit seeks publication of net neutrality discussions between FCC chair & internet providers A transparency advocacy group is suing the Federal Communications Commission to force the public release of FCC Chairman Ajit Pai’s net neutrality dis...
1 killed, 7 injured after Ohio State Fair ride malfunctions (GRAPHIC VIDEO) Published time: 27 Jul, 2017 03:52 An 18-year-old man has died and at least seven other people aged 13 to 41 are injured, some critically, following a...
DNA of human embryos edited for 1st time in US – report A team of researchers in Oregon have become the first to attempt to create genetically modified human embryos in the United States. The team reportedl...
Trump lauds potential 13k new jobs in Wisconsin Foxconn factory, but robots may land all the gigs Published time: 27 Jul, 2017 03:45 President Donald Trump has announced that electronics giant Foxconn is investing $10 billion in its first US assemb...
‘Terribly bad mistake’: US Senator says Russia sanctions go against EU energy security & free trade The essence of the new anti-Russian sanctions awaiting Donald Trump’s approval is to block the joint EU-Russian Nordstream II pipeline project and to ...
2 former Oklahoma police officers face assault charges in death of mentally ill man A judge has charged two former Omaha police officers in the death of a mentally ill man, whom they shocked with a taser and struck over a dozen times....
Teenage girl charged with plotting terrorist attack with ISIS fighter Published time: 26 Jul, 2017 10:23 A 17-year-old girl has been charged with terrorism offenses after allegedly taking instructions from a Syrian Islam...
Major Bitcoin trading site in limbo as Greece arrests Russian man on US charges of laundering $4bn Cryptocurrency exchange platform BTC-E has gone on “unplanned maintenance” after an alleged “crime mastermind” Aleksandr Vinnik linked to the site has...
German business lobby urges EU action against new US sanctions on Russia A US move to expand sanctions against Russia may have an adverse impact on Europe’s energy security, hurt the German economy, and appears to favor Ame...
Earth’s 2017 ‘resource budget’ will be spent by next week – report Published time: 27 Jul, 2017 01:33 The inhabitants of Planet Earth will have used up its yearly allowance of resources such as water, soil and clean a...
Refusing husband sex is emotional abuse, says Malaysian lawmaker Published time: 26 Jul, 2017 12:30 A Malaysian lawmaker is in hot water after saying that if a woman refuses sex to her husband, she is “emotionally a...

Special Promotion

Fancy a holiday in rural France ?

Find your ideal holiday accommodation in France, with peace of mind that all our properties are officially registered

Our aim is to provide potential holiday makers with a choice of properties, all of which are officially recognised by the French authorities as holiday lettings.  Every gite and holiday accommodation on our website is registered in France in one of two ways. It is either registered with the local Mayor as a tourism/short stay property or is is registered as a holiday letting business in France and so has a SIRET number. We will not advertise any properties unless we have seen evidence of this. If you want anymore information about this, please do contact us.

Follow us on Twitter 


Dont forget to “Like” us on Facebook


Other Video sections include:  Disclose TV – Twit Podcasts – Coming Soon our own Youtube Channel

We also recommend the excellent “No Agenda Podcast”  with Adam Curry & John C Dvorak


Comment on this story