AFP, New York :
The FBI bombshell that it is reopening the investigation into US presidential candidate Hillary Clinton’s email scandal jolted markets and sent US stocks, the dollar and oil prices lower Friday.
Eleven days before the US election, Wall Street had been comfortably in positive territory prior to the news that Federal Bureau of Investigation head James Comey was restarting the probe into Clinton’s use of a private email server while serving as secretary of state.
Clinton, the Democratic nominee, has been the market’s preferred choice over Republican Donald Trump, viewed by many investors as unpredictable. Analysts said the development raises the chances of a Trump win, after weeks during which Clinton handily led the polls.
“One of the things we felt more certain about over the course of the last week or two has been the result at the top of the ballot, and this probably throws that into question,” said Art Hogan, chief market strategist at Wunderlich Securities.
“That’s not going to be good for markets.”
And Chris Low of FTN Financial, said the news “at the very least it is going to require some new thinking” ahead of the November 8 presidential elections, leaving little time for the FBI to resolve the matter.
“I think that is what is motivating people to sell because it just creates a huge amount of uncertainty.”
The FBI bombshell that it is reopening the investigation into US presidential candidate Hillary Clinton’s email scandal jolted markets and sent US stocks, the dollar and oil prices lower Friday.
Eleven days before the US election, Wall Street had been comfortably in positive territory prior to the news that Federal Bureau of Investigation head James Comey was restarting the probe into Clinton’s use of a private email server while serving as secretary of state.
Clinton, the Democratic nominee, has been the market’s preferred choice over Republican Donald Trump, viewed by many investors as unpredictable. Analysts said the development raises the chances of a Trump win, after weeks during which Clinton handily led the polls.
“One of the things we felt more certain about over the course of the last week or two has been the result at the top of the ballot, and this probably throws that into question,” said Art Hogan, chief market strategist at Wunderlich Securities.
“That’s not going to be good for markets.”
And Chris Low of FTN Financial, said the news “at the very least it is going to require some new thinking” ahead of the November 8 presidential elections, leaving little time for the FBI to resolve the matter.
“I think that is what is motivating people to sell because it just creates a huge amount of uncertainty.”
