INTERVIEW – STEVE MOORE – Heritage Foundation economist

• Topic: Turmoil over recent Trump controversies triggers the Dow’s biggest losses since September. If Trump sees more turmoil and uncertain stock market, could this impact tax reform and health care efforts?
• Dow Closes Down 372 Points as Markets Lose Confidence in Trump

The Dow Jones Industrial Average dropped by 372.82 points on Wednesday, bringing the giddy post-election rally of the past few months to a halt as investors began to worry about the daily revelations of disarray with President Donald Trump’s administration.  It’s the first time since Trump’s election that the market has snubbed the commander in chief, and a clear indication of waning confidence in the president’s ability to fulfill his key promises of tax reform, deregulation, and investment in infrastructure.  The Dow closed at 20,606, with financials such as Goldman Sachs and Morgan Stanley absorbing the most losses.  “This is clearly Washington-driven,” Michael Shaoul, chairman and CEO of Marketfield Asset Management, told CNBC. “It’s a lot like 1998-99, when the market had to deal with the [Monica] Lewinsky scandal.”