Why didn't we see a double-digit decline in response to Trump's mob looting the Capitol? Here's the opinion of one former trader:
"By Pam Martens: January 15, 2021 ~
"I sat behind a trading terminal at two Wall Street firms from 1986 to 2006.
"I can assure you that if the President of the United States was refusing to accept the outcome of a presidential election and urging a coup d’é·tat by his civilian militia, the stock market would have sold off by double digits.
"This era’s stock market has yawned at the spectacle..."
"The stock market of that prior era (October 1987) would not have greeted 20,000 National Guard troops descending on the nation’s Capitol and television pictures of hundreds of those troops guarding the halls of Congress with a meaningless loss of 8 points — a tiny fraction of one percent."
If the US stock market is supposed to be an early indicator of when things are going badly, then sending a signal that bloody coups are nothing to worry about is comforting only to fascists."
The Stock Market Is Broken as a Bellwether; Here’s How to Fix It
"By Pam Martens: January 15, 2021 ~
"I sat behind a trading terminal at two Wall Street firms from 1986 to 2006.
"I can assure you that if the President of the United States was refusing to accept the outcome of a presidential election and urging a coup d’é·tat by his civilian militia, the stock market would have sold off by double digits.
"This era’s stock market has yawned at the spectacle..."
"The stock market of that prior era (October 1987) would not have greeted 20,000 National Guard troops descending on the nation’s Capitol and television pictures of hundreds of those troops guarding the halls of Congress with a meaningless loss of 8 points — a tiny fraction of one percent."
If the US stock market is supposed to be an early indicator of when things are going badly, then sending a signal that bloody coups are nothing to worry about is comforting only to fascists."
The Stock Market Is Broken as a Bellwether; Here’s How to Fix It