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- In a statement, Flynn said he agreed to “cooperate with the Special Counsel’s Office reflect a decision I made in the best interests of my family and of our country.” “If you believe the market has been rallying in the last 13 months [on Trump, this report] potentially unravels all of that,” said Jeremy Klein, chief market strategist at FBN Securities. “Markets don’t like uncertainty and this is the ultimate uncertainty.” The major averages hit their session lows on the report, with the Dow Jones industrial average briefly dropping more than 350 points before trading 133 points lower.
In a statement, Flynn said he agreed to "cooperate with the Special Counsel's Office reflect a decision I made in the best interests of my family and of our country." "If you believe the market has been rallying in the last 13 months [on Trump, this report] potentially unravels all of that," said Jeremy Klein, chief market strategist at FBN Securities. "Markets don't like uncertainty and this is the ultimate uncertainty." The major averages hit their session lows on the report, with the Dow Jones industrial average briefly dropping more than 350 points before trading 133 points lower.
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Loading...Stocks fell Friday on a report that Michael Flynn was directed by President Trump to talk to Russians.
ABC News reported that Flynn, the former national security adviser, would testify that he was directed to make contact with Russians during the presidential campaign in 2016. Flynn pleaded guilty to lying to the FBI about his postelection contacts with Russia's ambassador to the U.S.
In a statement, Flynn said he agreed to "cooperate with the Special Counsel's Office reflect a decision I made in the best interests of my family and of our country."
"If you believe the market has been rallying in the last 13 months [on Trump, this report] potentially unravels all of that," said Jeremy Klein, chief market strategist at FBN Securities. "Markets don't like uncertainty and this is the ultimate uncertainty."
The major averages hit their session lows on the report, with the Dow Jones industrial average briefly dropping more than 350 points before trading 133 points lower.
But it appears many investors were willing to bet that the Flynn report does not mean the Mueller probe would lead directly to Trump and derail his presidency and economic agenda. Stocks pared their losses after Senator Mitch McConnell told reporters that they had the votes to pass the Senate tax bill.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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