Wall St. falters as Brexit strikes again


by   |  VIEW 119
Wall St. falters as Brexit strikes again

On Tuesday, the 22nd of October 2019, all three key indexes of Wall St. had wrapped up the day in an offbeat note, shedding earlier gains after British lawmakers had rejected PM Johnson’s proposed timetable to pass legislations in order to ratify his deal to divorce the European Union within October 31st deadline.

Meanwhile, another defeat for the government of PM Johnson in the UK House of Commons had made it highly unlikely for Britain to finalize a divorce deal within an October 31st deadline, while PM Johnson had been quoted saying following Tuesday’s (October 22nd) defeat that it would be up to EU Commission on how long it wanted to extent the Brexit deadline, which in effect had weighed on US markets.

Although Brexit uncertainties had limited impacts for the moment being on US markets, however, it had been unnerving investors over the recent weeks, as Brexit chaos had added to a pessimistic outlook on global financial and economic conditions.

Meanwhile, adding that a baleful Brexit was tormenting global economic outlook, a chief market strategist at Bruderman Asset Management in New York, Oliver Pursche said, “Brexit by itself is not that big of a deal for equity investors.

The global economy is effectively suffering from 1,000 paper cuts. None of them are deadly, but in agreement, they’re certainly painful. ” Quoting statistics, on Tuesday’s (October 22nd) market closure, Dow shed 0.15 per cent to 26,788.1, S&P 500 tumbled 0.36 per cent to 2,995.99, while Nasdaq was nudged 0.72 per cent lower to 8,104.30 on Tuesday’s (October 22nd) market wrap up.