The threat of impeachment is back, and this time investors appear to be paying at least some attention.
“It felt like politics really wasn’t moving markets too much until today,” Art Hogan, chief market strategist for National, told MarketWatch during Tuesday’s session.
Indeed, stocks headed back to session lows in Tuesday afternoon trade after news reports said House Speaker Nancy Pelosi, a California Democrat, would announce a formal impeachment inquiry of President Donald Trump. Stocks ended the day somewhat above those lows but in negative territory, with the S&P 500 index SPX, -0.84% closing 0.8% lower, while the Dow Jones Industrial Average DJIA, -0.53% declined around 140 points, or 0.5%.
