It’s an ugly tape today as the Nasdaq decline nears 2%. Chip stocks are getting beaten up and we’re awaiting Netflix earnings after hours. I imagine anxiety about the AI trade is mostly driving the market but that might not be all.
Trump has scheduled a prime time speech today and the rumors say the topic is election integrity and foreign interference in the 2020 election. It’s an old claim but there’s talk he could try to present some evidence and that who knows where that might lead.
He has promised to reveal “really big news” on election security.
The President has been trying to push the Save America Act on voter ID but all indications are that it doesn’t have the support to get through Congress. He’s also likely to address the war in Iran and he’s generally inflamatory in those situations.
Overall, it’s a decent risk for the market, even if we’ve all gotten used to shrugging off 99% of the Trump rhetoric. As usual, there is no predicting what Trump might do or say.
This article was written by Adam Button at investinglive.com.