Wall Street slips on Trump comments, geopolitical worries | Reuters
By Yashaswini Swamynathan U.S. stocks were lower on Monday amid losses across sectors as investors' appetite for risk was curbed by geopolitical tensions in Asia and President Donald Trump's accusation that his predecessor, Barack Obama, wiretapped him.Some investors worried that the accusation could distract Trump from his economic agenda of introducing tax cuts and simplifying regulations that has powered a record-setting rally on Wall Street since the election.However, the lack of detail on Trump's proposals and setbacks in filling his Cabinet have made investors jittery amid lofty market valuations.The CBOE Volatility index .VIX, also dubbed Wall Street's fear gauge, rose for the first time in four days."We've been able to digest a lot of intrigue coming out of Washington and markets haven't taken a much of pause here so I think the pause starts this week and perhaps even starts today," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York. The S&P 500 is trading at about 18 times forward earnings estimates against the long-term average of 15 times, according to Thomson Reuters data.Investors are also gearing up for a U.S
The post Wall Street slips on Trump comments, geopolitical worries
| Reuters appeared first on Firstpost.