Paul Nolte Quoted in The Age
From The Age:
The Dow Jones Industrial Average fell 138.61 points, or 0.7 per cent, to 20,453.25, the S&P 500 lost 15.98 points, or 0.7 per cent, to 2328.95 and the Nasdaq Composite dropped 31.01 points, or 0.5 per cent, to 5805.15.
The US 10-year note yield ended flat at 2.24 per cent, erasing earlier losses; still the yield has fallen 39 basis points in the past month.
The benchmark S&P 500 has climbed 8.9 per cent since President Donald Trump’s November 8 election, supported by his planned economic agenda of tax cuts and economic stimulus. But the rally has stalled the past six weeks as some investors question Trump’s ability to enact his proposals.
There is “some concern among investors that there is now a shift going on in Washington to international and away from a domestic policy”, said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.