Stocks Down as Politicians Do Nothing (Bloomberg)
The S&P 500 was down 0.7% to 1,698.09, a change in direction from the previous four days, which had all ended up. Previously announced discussions between the White House and the House Republicans dissolved today. “The knee-jerk reaction will be to sell on any kind of bad news,” said Kevin Caron, a market strategist at Stifel Nicolaus & Co “The market is looking for progress, so anything that’s not indicative of progress, the answer’s going to be shoot first and ask questions later.”
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