Markets Facing Biggest Challenge of 2017
The U.S. stock market has experienced unprecedented gains since President Donald Trump won the election on Nov. 8, 2016. The Dow Jones Industrial average surpassed the 20,000 mark for the first time ever having risen 1,700 points since Trump was elected the nation’s 45th President. Prior to today’s trading, the S&P 500 hadn’t declined by 1% or more for 74 days, (which is the longest such streak in 10 years.) If you remember back in history, it took the Dow 27 years to go from 5,000 in 1972, to 10,000 in 1999. The Dow hit 14,164 in October 2007. Then lost more than 50% of market value, crashing to around 6,600 in March 2009 due to the global financial crisis, but it has taken just 8 years since then for the Dow to hit the 20,000 plateau.
Today the market did suffer its worst losses of 2017 which has many investors concerned. Many believe that today’s downturn has a lot to do with President Trump’s temporary ban on immigrants coming to the U.S. from 7 countries. This past Friday, the President signed an executive order that would temporarily prevent entry into the U.S. by refugees from: Iraq, Syria, Iran, Sudan, Libya, Somalia and Yemen. The concern from investors is how Pres. Trump’s executive decision on immigration is going to effect international business with the U.S.
Jurgen Hardt, who is a German foreign ministry official told CNN/Money-
“I am anxiously awaiting the moment when the stock markets turn from good to bad. An America that operates by itself will no longer be attractive for investors.”
See more on the history of the stock market roller coaster here.
Watch below as CNBC explains what happened to the markets today and how Wednesday’s meeting of the Federal Reserve Policy Board is the most critical of the new year.
With the market down and facing it’s biggest challenge of the new year so far, The question you have to ask yourself is:
If the stock market drops 30% or more this year, do you have time to recover your losses?
It’s a question you must seriously consider if you’re facing retirement.
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See what you’ll learn at a Crash Proof Retirement® Educational Event. Watch below.
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