They’ve faced threats before: swollen valuations, a stagnating economy, stretches of declining earnings. Now investors are dealing with a new menace, and it’s wreaking more havoc than anything in two years.
The New Year’s rally has pushed the S&P 500 Index to its best start since the administration of George W. Bush. Now it’s bumping against speed barriers that marked the upper limits of bull markets for decades.
Despite President Donald Trump’s statement this month that “the rich will not be gaining at all,” the tax plan that the White House and Republican leaders rolled out may contain more than $1 trillion in breaks for the highest earners Continue reading →