First it was trade wars, now it’s real wars.
“Our president is back on the tweet cycle again,” said Bruce McCain, chief investment strategist at Key Private Bank.
“The big concern, much like the tariff issue, is: Does this broadens into something nastier? Will Russia somehow retaliate and drag us into something more?” asked McCain.
Dow futures were already slightly lower before Trump tweeted. The Wall Street Journal reported overnight that the Trump administration is pressing allies to back a military strike on Syria. The White House said on Tuesday that Trump canceled a planned trip to South America to remain in the United States to “oversee the American response to Syria.”
“From inflation, to higher rates, to
The Dow has tumbled about 9% from all-time highs in late January. Bullish investors hope the sell-off will ease as Wall Street shifts focus to what should be robust corporate earnings in the coming weeks.
” At the end of the day,” Detrick said, “the economy continues to support growth and that is what will matter to long-term investors.”
CNNMoney (New York) First published April 11, 2018: 7:35 AM ET