Today started off like any other day in the market. However, things have started to change, and they are changing quickly. The reason for the big drop? New information with regard to the Hillary Clinton email scandal. Today, we’ll talk about the new information, why it’s causing the floor to fall out of the market, and what we can expect to see ahead.
What’s Going On With Hillary Clinton?
As mentioned above, the market in the United States is taking a dive today, and for good reason. New news is coming out with regard to the Hillary Clinton email scandal. So, what’s the new news?
The news is that the Director of the United States Federal Bureau of Investigations, James Comey, sent a letter to the United States Congress. The letter informed Congress that the FBI has discovered new emails with regard to the Hillary Clinton email scandal. As a result, Comey has decided to re-open the investigation into criminal conduct threatening the security of the United States of America. Here’s what we read in the letter from Comey…
“In previous congressional testimony, I referred to the fact that the Federal Bureau of Investigation (FBI) had completed its investigation of former Secretary Clinton’s personal email server. Due to recent developments, I am writing to supplement any previous testimony.
In connection with an unrelated case, the FBI has learned of the existence of emails that appear to be pertinent to the investigation. I am writing to inform you that the investigative team briefed me on this yesterday, and I agreed that the FBI should take appropriate investigative steps designed to allow investigators to review these emails to determine whether they contain classified information, as well as to assess their importance to our investigation.
Although the FBI cannot yet assess whether or not this material may be significant, and I cannot predict how long it will take us to complete this additional work, I believe it is important to update your Committees about our efforts in light of my previous testimony.”
Why This Is So Bad For the Market
At the end of the day, this is the first time in history that a candidate for the office of President of the United States was under a Federal investigation. This plays a big role in the Presidential election, and means that the underdog may win. The problem with this is that many believe that the result of the effect on the election will likely be largely negative for the US economy. As a result, investors are tanking the market and pushing money into safe haven investments.
What We Can Expect To See Moving Forward
While I would love to say that this is likely to be a short term dip, that’s simply not the case. The truth is that this news is huge, and there’s quite a bit of uncertainty revolving around it. With the FBI reviewing new emails in the Hillary Clinton probe, we could see the first time that a Presidential candidate faced Federal charges while a candidate with the least favorability ratings in history takes office. At the end of the day, we won’t know the future until the future pans out. However, things aren’t looking great!
What Do You Think?
What are your thoughts on today’s news? Join the discussion in the comments below!