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The Market Wrap for March 10: What Happened to our Rising Stocks?

Aaron Levitt Mar 10, 2017


March is certainly coming in like a lion. Aside from the stormy weather across much of the U.S., the markets are experiencing their own turbulence as well. The purported “Trump Bump” – or the general grinding of stocks higher and higher – hasn’t been without its hiccups. This week, those hiccups manifested themselves as a full-blown fit. Stocks spent much of the week in a downward spiral.

Even though the week’s data came in overwhelmingly on the bullish side, investors read that as a bad sign. The Fed is almost certain to raise rates at their next meeting. The source of easy and cheap cash that has flooded the markets over the last eight years is about to dry up.

And with earnings season basically over and no real bellwethers reporting their profits this week, traders were solely fixated on the data and what it means for the Fed.

In the end, the Trump Bump deflated this week, which could be a sign of bad things to come.

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