It’s been a rough week in the US stock market this week, with the Dow Jones Industrial Index down 3% and the Nasdaq down 4% just on Wednesday, both down some more on Thursday, and then recovering a little bit on Friday.
Morgan Stanley published a bland note on Wednesday for their investors saying – uh, the market is down – and ‘a host of concerns have appeared to weigh on the market in recent sessions’. (Higher US Treasury yields, rising interest rates, trade uncertainty between the US & China, political uncertainty & rhetoric, economic growth could be peaking). Yes, yes, we know all of that. And it’s October, notorious for weighing on the stock market.
For once, Trump is not crowing about the stock market; now relentlessly attacking the Federal Reserve Bank (for raising interest rates). Always looking for someone else to blame.