SOURCE: Reuters
9/25/19
tags: economic history, stock market, Wall Street, impeachment, Trump
Read entire article at Reuters
comments powered by Disqus
9/25/19
Trump impeachment? History suggests Wall Street ought not worry
Breaking Newstags: economic history, stock market, Wall Street, impeachment, Trump
The move by Democrats in the U.S. Congress on Tuesday to launch a formal impeachment inquiry into President Donald Trump has caused nervousness on Wall Street - but history suggests investors need not worry.
...
Wall Street dropped and the dollar tumbled in the months ahead of President Richard Nixon’s resignation in 1974, when he was under threat of impeachment over the Watergate scandal.
But that market volatility also stood against a backdrop of Nixon’s decision to suspend the dollar’s convertibility into gold and a recession following the oil shock of late 1973, according to JPMorgan’s John Normand.
After early volatility, Wall Street also weathered the 1998 impeachment of Clinton, who was later acquitted by the Senate.
comments powered by Disqus
News
- Josh Hawley Earns F in Early American History
- Does Germany's Holocaust Education Give Cover to Nativism?
- "Car Brain" Has Long Normalized Carnage on the Roads
- Hawley's Use of Fake Patrick Henry Quote a Revealing Error
- Health Researchers Show Segregation 100 Years Ago Harmed Black Health, and Effects Continue Today
- Nelson Lichtenstein on a Half Century of Labor History
- Can America Handle a 250th Anniversary?
- New Research Shows British Industrialization Drew Ironworking Methods from Colonized and Enslaved Jamaicans
- The American Revolution Remains a Hotly Contested Symbolic Field
- Untangling Fact and Fiction in the Story of a Nazi-Era Brothel