He’s Obama right? Mr. Cronyism for the stock market.
Obama appointed the Fed Gov. who started talking about raising rates~that the Fed needs to do this at next meeting. Markets were not expecting a rate hike until December. This Fed governor is considered dovish...so to say need to raise rates is big deal.
The market futures were down 100 before trading began...never good sign and the markets just kept going down all day. Not political motivation that I could see.