The pound rises finally!

Wall Street opens lower but falls limited
As forecast, the continuing controversy over Donald Trump and his actions relating to Russia and the sacking of FBI director James Comey, sent Wall Street lower again as markets opened.

But after their worst day since September, the falls have been fairly limited and could easily be reversed. The Dow Jones Industrial Average is currently down 14 points, while the S&P 500 fell 0.15% and the Nasdaq Composite 0.22% in early trade.

Meanwhile European markets remain under pressure, with the FTSE 100 down 1.2%, Germany’s Dax dropping 0.65% and France’s Cac 0.89% lower.

Dennis de Jong, managing director UFT.com, said:

While the impeachment of Donald Trump may not be a serious possibility at this stage, the mere mention of the word has seen warning lights go off across the world, with doubts over the President’s ability to deliver on his planned infrastructure spending and tax reforms.

Investors are steering clear of any risky assets due to the uncertainty over Trump’s future – and given the unpredictable nature of the presidency so far, this is unlikely to improve any time soon.

With potentially more revelations on Trump yet to surface, global financial uncertainty could be a feature of the next four years – if he lasts that long, that is.