The Flinchum File

Thoughtful Economic Analysis and Existential Opinions
Subscribe to the Flinchum File
View Archives

Monday’s Autopsy


The market was already nervous before the 9:30 AM open on Monday.  Higher and higher interest rates were bad enough, but the market was also frightened by a senior trade negotiator who predicted a long, slow fight with China, with no end to the trade war in sight.  Then, the world’s largest company, Apple, was downgraded when several of its suppliers downgraded 2019 earnings.  Later in the day, reports of a big scandal in Malaysia by investment giant Goldman Sachs added to the unease.  The whole time, the price of oil continued to fall, suggesting a possible decrease in global growth.

Also, the President tweeted that “presidential harassment” was freaking out the stock market.  With that tweet, the rumor mill went wild, that Mueller report was about to be released, and the plunge began.  The Dow finished the day down 602 points.

In some ways, it was too much bad news for a Monday morning, but my takeaway is that there is more anxiety about bad news from the Mueller report that I suspected.  Whenever that report is issued, it may be good buying opportunity.


We are a fee-only advisor providing best interest fiduciary services to clients
in Chesapeake, Newport News, Norfolk, Suffolk, Virginia Beach, Williamsburg, and the surrounding areas of Hampton Roads.


Contact Us Bottom