Late last year I envisioned that a Trump regime would send the global financial markets into turmoil. I was so worried about this that I actually sold off many of the mutual funds and stocks that were in good standing. My thinking was that I would be foolish not to realize those gains and solidify them to insulate myself against turmoil.
It didn’t surprise me that the Trump regime wasted no time in doing or attempting to do terrible things. What did surprise me was how Wall Street wasn’t phased by any of this. The markets didn’t even wobble when the Muslim ban came into effect. There was barely a blip when they tried to repeal the ACA healthcare bill. The DOW marched towards 21K even as the National Security Advisor was fired.
I was thinking nothing could phase Wall Street as stocks kept on going higher and higher. Perhaps yesterday I was proven wrong. On the news that Trump asked now-fired FBI Director Comey to drop the investigation into much maligned NSA Flynn, Wall Street appeared to finally been spooked. Markets experienced a pronounced decline, as the DOW lost almost 400 points.
On a personal note, the timing of this is just the sort of luck I have or the lack thereof. The first batch of my restricted stock units vest in exactly one month. I won’t be a millionaire or anything but the number of shares vesting isn’t trivial either. Note that the EA stock price cleared $100 USD for first time in history this month. Unfortunately, because of today’s downturn, my RSUs lost 6% in value in less than 24 hours.
Hopefully the markets will rally again before my shares vest next month but who knows what crazy news will come from the White House in the meantime.