The worst performer today in the S&P 100, Morgan Stanley, last week issued a conviction call to buy the stock market on the grounds that the Trump tax and deregulation agenda would succeed. Today’s worst performers are stocks with exposure to the Trump agenda–banks and investment banks, as well as Apple, whose overseas cash hoard would allow to benefit from the proposed repatriation amnesty on corporate taxes.
Are the gods punishing Morgan Stanley?
At 2:30 the investment bank was down exactly 6.66%, the sign of a beastly market
