Friday, 20 January 2017
Wall Street Falls As Investors Ready For Trump's Inauguration
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US stocks fell on Thursday, continuing to pull back from the post-election rally, on investor caution ahead of Donald Trump's inauguration as president on Friday.
The Dow fell for a fifth straight day, its longest losing streak since just before the November 8 US election. Still, Trump's swearing-in will mark one of the best performances for stocks for any presidential transition period of modern times.
The S&P 500 is up 5.8 percent since the vote. And though the S&P 500 sank 5.3 percent on President Barack Obama's inauguration day and tumbled 20.4 percent during the first 34 trading days of his administration, bottoming on March 9, 2009, the index has nearly tripled in price off that low.
Including reinvested dividends, it has delivered a total return of nearly 295 percent. That is the second-best run for the stock market under any president since Dwight Eisenhower.