On Wall Street, the fear is Trump's trade policies, not impeachment
House Speaker Nancy Pelosi has formally called for an impeachment inquiry into President Trump. The market reaction was a giant shrug. This is a political moment for the country, not an economic one, many analysts say.
Stocks fell a bit Tuesday as news of the decision by Pelosi (D-Calif.) broke (the Dow Jones industrial average lost about 142 points, or about 0.5 percent, by the end of the day), but the market rebounded Wednesday (the Dow ended up 163).
On Wall Street, few expect the process will lead to Trump’s removal from office. Pelosi appears to be inching closer to the votes for an impeachment in the House, but it looks highly unlikely at this point that two-thirds of the GOP-controlled Senate would go along with it.
“Markets have seen this Impeachment movie before,” said Jamie Cox, managing partner at Harris Financial Group in Richmond. “So what if the House impeaches, if the Senate will never remove the president from office? Markets are way more interested in a trade deal with China.”
https://www.msn.com/en-us/money/markets/on-wall-street-the-fear-is-trumps-trade-policies-not-impeachment/ar-AAHQiBA
There goes another of Trump's arguments against impeachment.
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