Following leaks this morning that the Trump administration is considering executive orders around the H1-B worker via program, tech stocks are tumbling with the Nasdaq down most since September...
Additionally, the S&P 500 just dropped 1.0% for the first time since October...
And VIX is spiking above key technical levels (50DMA) - the biggest spike since September...
Submitted by Axel Merk via MerkInvestments.com,
Faced with a Tweeter-in-chief, how are investors to navigate what’s ahead? Is there a strategy behind President Trump’s outbursts; and if so, how shall investors position themselves to protect their portfolios or profit from it?
While US markets take the day off for MLK holiday, the rest of the trading world has been busy, perhaps nowhere more so than the sterling which continued its volatile session in advance of May's pre-hard Brexit speech, falling below $1.20 for the first time since October after the Sunday Times said May is ready to withdraw from tariff-free trade with the region in return for the ability to curb immigration and strike commercial deals with other countries.
Via Dana Lyons' Tumblr,
Despite the recent string of Nasdaq new highs, more stocks have been declining than advancing.
Global stocks were fractionally lower in early European trading, closed Asia mixed, while S&P futures were unchanged, as the dollar fell for a second day on concerns ahead of Trump's press conference on Wednesday. Oil rebounded after its Monday plunge, while commodity metals like iron ore rose limit up in Chinese trading. Top overnight stories include Valeant announcing the sale of $2.1 billion in assets to pay down debt; VW managers warned to stay in Germany as U.S. charges near; Yahoo! plans to shrink board, get rid of Marissa Meyer and change its name after Verizon deal.