Wall Street expectations after Trump election
CINCINNATI (WKRC) - The mood on Wall Street at first Wednesday, November 9, was similar to after the surprise Brexit vote in June 2016.
When voters in the UK shocked the financial markets and voted to leave the EU there was a massive sell off after the Brexit vote. But a quick rebound. America had a rebound Wednesday morning after DOW futures sank overnight. But what about the days ahead?
Local 12 News spoke with a Ohio-based investment expert and asked what he sees going forward. Jason Jackman said people should expect interest rates to rise. In fact the rate rose over two percent on the ten year treasury Wednesday. That hurt housing stocks that were rate sensitive.
Trump's policies were seen as inflationary and heating up the economy. That is why rates should rise. Jackman also said expect days with a lot of volatility just based on what Trump might say. As always talk to an expert on investment goals, be diversified and not reactionary.