Stocks took the usual FOMC do-nothing antics in stride but sold off late in the day, with the Dow Jones Industrials finishing below 18,000 and the S&P 500 under 2100.
For the S&P, it was the first close below 2100 since early July, leaving the broad index up just five percent on the year, floating just above its 200-day moving average.
Cause for such grief in stocks is likely tied to the presidential election, now less than a week away, and the continuing surge of Donald J. Trump in the polls as more and more dirt is coming up from under the Hillary Clinton rug.
Investors are worried that their fair-haired, lying, cheating, scandal-ridden candidate will not make it to the finish line ahead of Trump, whom the media and Clinton camp have tried in vain to paint as misogynist, racist, rapacious, in bed with Russia, and other flights of fantasy.
As sad as the media bias and misrepresentation has been, what is potentially more disturbing is how poorly the media and Democrats think of the American public as gullible, malleable and utterly useful only to the ends of the elite.
As was stated more than three weeks ago right here in Money Daily, it now appears that Trump is going to win the election in a backlash landslide.
And stocks don't like it. Too bad.
Hump Day or Trump Day?
17,960.60, -76.50 (-0.42%)
5,105.57, -48.01 (-0.93%)
2,097.95, -13.77 (-0.65%)
10,349.57, -64.48 (-0.62%)