Stocks fall on report that Michael Flynn was directed by Trump to talk to Russians

[DonViejo]

Source: CNBC


ABC News reported that Flynn would testify that he was directed to make contact with the Russians.
The major averages hit their session lows on the report.

Gold and Treasuries spiked higher following the ABC report as investors fled to market safe havens.

Alexandra Gibbs | Fred Imbert
Published 8 Hours Ago Updated 34 Mins Ago

Stocks fell Friday on a report that Michael Flynn was directed by President Trump to talk to Russians.

-snip-

"If you believe the market has been rallying in the last 13 months [on Trump, this report] potentially unravels all of that," said Jeremy Klein, chief market strategist at FBN Securities. "Markets don't like uncertainty and this is the ultimate uncertainty." The major averages hit their session lows on the report, with the Dow Jones industrial average briefly dropping 350.45 points before trading 93 points lower.



The S&P 500 declined 0.4 percent after falling 1.4 percent. The Nasdaq composite lagged, pulling back 0.7 percent. Gold and Treasurys spiked higher following the ABC report as investors fled to market safe havens.

"It comes down to did Trump obstruct justice in any way," said Peter Boockvar, chief market analyst at The Lindsey Group. "It's another potential political blindside. We've gotten a lot of those," he said.







Read more: https://www.cnbc.com/2017/12/01/us-stock-futures-data-opec-tax-on-the-agenda.html

[BumRushDaShow]

1. That is WAY overdue for a 10% correction

which would amount to about 2,400 points (on the Dow).

[groundloop]

2. And another 30 or 40% correction after the latest trickle down scheme take hold

[Iliyah]

3. It may go up once that repigs vote on the bill that will destroy

America and her people.

But then again, it's a matter of time (close) when the stock market will pop.