….Explaining market behavior is a fool’s game. But at risk of being proven a fool, let me offer a theory: Investors are waking up to the fact that they need to take Trump literally, not just seriously.
Stocks Fell. Are Investors Finally Taking Trump At His Word?
During the runup to the election last fall, a vocal group of economists warned that a surprise win by Donald Trump would send financial markets into a tailspin. Instead, the opposite happened: After initially tumbling as the results came in on election night, markets surged the day after, and have risen steadily ever since.