So what’s a bull market anyway? It’s when the stock market rises 20 percent from a prior low. Despite some recent scares in the market, Wall Street will celebrate the bull market’s ninth birthday Friday. Josmar Taveras
Wall Street has another thing to worry about: rising geopolitical tensions after President Trump warned of a U.S. strike on Syria.
And that latest fear is weighing on stock prices in early trading Wednesday. The Dow Jones industrial average was off its earlier lows but still down about 125 points, or 0.5%, after rising nearly 429 points the day before.
Unsettling headlines and tweets from the president are again dragging down market.
Trump, who has been weighing a military response in Syria following an alleged chemical attack on citizens by its government, responded to Russia’s threat to shoot down any U.S. missiles aimed at Syria, tweeting: “Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and ‘smart!’”
The president’s taunting added to the list of challenges for stocks, ranging from trade tensions with China to a user privacy crisis at Facebook that has lawmakers talking about more regulation of tech companies.
Early weakness in stocks before the opening bell was exacerbated by “a series of tweets by the president escalating the potential for conflict in Syria,” Paul Hickey, co-founder of Bespoke Investment Group, told clients in a note.
The stock market has been suffering violent swings so far in April due to the ongoing “headline” risk. The Dow has closed up or down by more than 200 points six of the seven trading days so far this month.
Read or Share this story: https://usat.ly/2GTjBAb
This Article Was Originally From *This Site*
Powered by WPeMatico