The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019

U.S. Stocks Fall Again On Fed Tapering Worries

@AFP

New York (AFP) – U.S. stocks Tuesday fell for a second day in a row as speculation increased that the U.S. Federal Reserve will soon scale back its bond-buying program.

At the closing bell, the Dow Jones Industrial Average fell 94.40 points (0.59 percent) to 15,914.37.

The broad-based S&P 500 dipped 5.81 (0.32 percent) to 1,795.09, while the tech-rich Nasdaq Composite Index declined 8.06 (0.20 percent) to 4,037.20.

Stocks have soared for most of 2013 despite periodic fits that the Fed will trim its $85 billion per month bond-buying program.

That speculation picked up following strong economic data on Monday, a dearth of major economic news on Tuesday and ahead of a big U.S. labor report Friday that many feel could hasten Fed action if jobs growth is strong.

The markets are falling because of “more taper fears” as economic data improves, said Brent Schutte of BMO Private Bank.

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Mike Lindell

Ronna McDaniel secured a fourth term as chair of the Republican National Committee (RNC) on Friday with roughly two-thirds of the votes cast, leaving her challengers in the dust, including millionaire conspiracy-monger Mike Lindell, who had projected a winner’s confidence on the campaign trail.

Keep reading...Show less

Charles McGonigal

Youtube Screenshot

The arrest of Charles McGonigal, chief of the FBI counterintelligence division in New York from October 2016 until his retirement in 2018, reopens festering questions about the troubled election that put Donald Trump in the White House. Among the crimes charged against McGonigal in two lengthy federal indictments is a secret financial relationship with Oleg Deripaska — a Russian oligarch close to dictator Vladimir Putin and associated with Paul Manafort, Trump's campaign manager, himself convicted of crimes and pardoned.

During his FBI career, McGonigal oversaw investigations of Deripaska and other oligarchs suspected of various crimes, including espionage. Now the exposure of his illegal connection with Deripaska may provide fresh insights into Trump's tainted victory.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}