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The Closing Bell: Wall Street Tumbles As Investors Flee Latest Trump Crisis: Dow Down 372

TedTed
edited May 2017 in Fund Discussions
FYI: The S&P 500 had its biggest one-day tumble since September and shares extended losses through the day after reports of a memo by former FBI chief James Comey suggested that President Donald Trump tried to interfere with a federal investigation, setting off alarm bells on Wall Street.
Regards,
Ted
Bloomberg:
https://www.bloomberg.com/news/articles/2017-05-16/yen-climb-to-weigh-on-japan-stocks-gold-gains-markets-wrap

Reuters:
http://www.reuters.com/article/us-usa-stocks-idUSKCN18D1E0

MarketWatch:
http://www.marketwatch.com/story/us-stock-futures-slide-as-concerns-over-trump-grow-2017-05-17/print

IBD:
http://www.investors.com/market-trend/stock-market-today/dow-falls-hard-on-weakness-in-financials-fang-stocks-apple-sell-off/

CNBC:
http://www.cnbc.com/2017/05/17/us-markets.html

AP:
http://hosted.ap.org/dynamic/stories/F/FINANCIAL_MARKETS?SITE=AP

WSJ: Markets At A Glance:
http://markets.wsj.com/us

SPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-tracker

SPDR's Bloomberg Sector Performance Pie chart:
https://www.bloomberg.com/markets/sectors

Current Futures: Ugly !
http://finviz.com/futures.ashx

Comments

  • BobCBobC
    Investors "flee"? NO, it was program trading, and the president's troubles, real or fantasy, had little to do with the small loss. Most here have been expecting a 5-10% or more pullback. Nothing surprising yesterday, except for news people trying to attach political connotations.
  • beebee
    edited May 2017
    BobC said:

    Investors "flee"? NO, it was program trading...

    Just another form of "milking the cows"...Jerseys, Hampton, Fairfield, Nantucket, North Shore, Newport,Boca,....only one doubles as a bovine breed, the rest just Wall Streets breeds.

    Also, that loss (if you want to call it that) goes somewhere..."Sell in May and go away"...to one of these vacation spots.

    "Mutual funds shares" should come with "time-shares" of their managers yachts and beach houses. Just a thought.
  • beebee
    edited May 2017
    On a separate note:

    Defensive funds showed themselves yesterday.
    Bruce Fund (BRUFX) showed a small gain of .16%,
    a high yield fund (AGDYX) was off .3%,
    VWINX dropped .2%.
    Bond fund PTIAX had a up day gaining .35%.
  • willmatt72
    GLRBX down 1.06% yesterday. Eh, not impressed for a 50/50 equity/bond split fund.
  • MikeMMikeM
    GLRBX down 1.06% yesterday. Eh, not impressed for a 50/50 equity/bond split fund.

    Kind of makes sense. I believe small and mid caps were down about 2x that amount.
  • davidrmorandavidrmoran
    DSENX down the same as SP500, half that (0.9%) when 50-50 w/ PONDX, my homebrew balanced fund.
  • willmatt72
    MikeM said:

    GLRBX down 1.06% yesterday. Eh, not impressed for a 50/50 equity/bond split fund.

    Kind of makes sense. I believe small and mid caps were down about 2x that amount.

    Unfortunately, the fund managers' decision to stress small and mid cap value equities has not served it well over the past three to five years. In addition, It's upside/downside capture ratio has been pretty poor during that time period as well.
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