Reuters - Video

Edition: US | UK | IN | CN | JP

video Video

Bernanke steps into the spotlight
Bernanke steps into the spotlight - 02:13
The official royal wedding guest list revealed
The official royal wedding guest list revealed - 01:23
Shuttle astronauts arrive at Cape Canaveral
Shuttle astronauts arrive at Cape Canaveral - 01:18
Waiting for Bernanke
Waiting for Bernanke - 01:51
Hospital staff flee border fighting
Hospital staff flee border fighting - 01:10
Thousands at Sai Baba funeral
Thousands at Sai Baba funeral - 01:03
Al Qaeda releases hostage messages
Al Qaeda releases hostage messages - 01:43
Obama calls birth controversy \
Obama calls birth controversy "distracting" - 05:29
Three blasts hit Kirkuk
Three blasts hit Kirkuk - 01:25
Protests intensify in Yemen
Protests intensify in Yemen - 01:24
Border clashes displace thousands
Border clashes displace thousands - 01:50
S&P Credit Rating Warning Helpful - Lister
S&P Credit Rating Warning Helpful - Lister - 00:53

Investors take their bets off Wall Street

Wednesday, May 17, 2017 - 01:12

Trump trade is over as investors increasingly worry U.S. President is less likely get tax cuts and deregulation done, says Max Wolff of 55 Capital. Fred Katayama reports.

▲ Hide Transcript

▶ View Transcript

The Trump trade may be over. U.S. stocks plunged on Wednesday. The S&P fell 1.4 percent in morning trading after former FBI chief James Comey revealed U.S. President Donald Trump asked him to end a probe into former National Security Adviser Michael Flynn's ties with Russia. That came on the heels of Trump unexpectedly firing Comey and disclosing classified information to Russia about a planned Islamic State operation. Max Wolff of 55 Capital says all this news casts a shadow over Trump's pro business agenda. (SOUNDBITE) MAX WOLLF, MARKET STRATEGIST, 55 CAPITAL (ENGLISH) SAYING: "A significant part of what's produced the six month market rally is the notion that we're going to have radical deregulation particularly, but not exclusively, around financial issues, and we're going to have massive tax cuts, particularly, but not exclusively for large companies. The weaker the President is, the less likely you are to get those tax cuts and some of those premiums start coming out of the market. And, I think, that's what we're seeing right now." Bank stocks, which outperformed in the post-election rally, were the worst hit. The dollar index erased all the gains driven by Trump's pro-growth stance. And Wall Street's "fear gauge" - the volatility index or VIX - shot up.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

Investors take their bets off Wall Street

Wednesday, May 17, 2017 - 01:12

Featured Videos

Luxury liner Queen Elizabeth II reopens as floating hotel

Luxury liner Queen Elizabeth II reopens as floating hotel

One of the world's most famous ships is now a floating hotel permanently moored at Dubai's Mina Rashid port
World Toad in the Hole Championships

World Toad in the Hole Championships

The aim of the traditional pub game originating from France is to land as many large brass coins or 'toads' in a table's small hole
Tarantula burgers on the menu

Tarantula burgers on the menu

For adventurous diners, tarantula topped burgers are available at a Durham, North Carolina restaurant as part of its ‘exotic meat’ month
Runners brave the cold for North Pole Marathon

Runners brave the cold for North Pole Marathon

Runners brave freezing conditions at top of the world in North Pole Marathon
UK firm turns discarded gum into shoes, coffee cups and combs

UK firm turns discarded gum into shoes, coffee cups and combs

Chewing gum is a blight on city streets and takes a heavy toll on the environment, say its critics. But one woman in Britain is performing modern-day alchemy on it