Trump impeachment and weaker U.S. consumers rattle Wall St.
American markets fell Tuesday upon news of impeachment against Trump. The White House is shrugging off the latest development as “nothing new,” but shortly after Tuesday’s closing bell, House Speaker Nancy Pelosi announced the launch of a formal impeachment inquiry. Earlier that day, Trump’s speech at the U.N. did nothing to comfort jittery investors when he rebuked China’s trade practices. If that wasn’t enough to spook investors, the U.S. consumer confidence rate for September fell by the most in nine months, even below expectations. Nervous investors extended the losing streak of the S&P (-0.85% at 2,966) and the NASDAQ (-1.46% at 7,993) to three days, but pushed Dow utilities by 1.2% to record highs. The DJU closed at $874.74.
Things were a little quieter on this side of the border with the TSX slipping 0.41% to 16,798. Tuesday’s session began with Blackberry‘s earnings missing badly. The cybersecurity stock plunged 22% to close at $7.68. In contrast, cybersecurity ETF, CYBR-T slipped 1.58% on Tuesday to $26.22.