Trump impeachment? History suggests Wall Street ought not worryBreaking News
tags: 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
- Santae Tribble, Whose Wrongful Conviction Revealed FBI Forensic Hair Match Flaws, Dies at 59
- Crowd Rallies to Keep Confederate Memorial in Downtown St. Augustine
- As Divisions Threaten America, The Pressure To Cancel Presidents Is Dangerous
- Trump is Going All In on Divisive Culture Wars. That Might not Work this Time.
- Redskins, Indians and the Long Push to Drop Native American Mascots
- How to Confront a Racist National History
- The Politics of Race are Shifting, and Politicians are Struggling to Keep Pace
- Trump’s Push to Amplify Racism Unnerves Republicans who have Long Enabled Him
- The Day the White Working Class Turned Republican (Review)
- David Starkey Criticised over Slavery Comments