Stocks Plunge Into Red For July After SCOTUS Trump Tax Decision

Stocks Plunge Into Red For July After SCOTUS Trump Tax Decision

Tyler Durden

Thu, 07/09/2020 – 11:02

Update (1100ET): US Treasury yields are now lower on the month…

And The Dow and Small Caps also in the red for the month…

…as derisking post-SCOTUS is accelerating.

*  *  *

In a somewhat surprising decision, the Supreme Court has ruled that a NY Grand Jury can get access to Trump’s tax returns.

This sparked instant selling pressure on the market, as it seems investors may have suddenly come to the realization that Biden could win (and Dems take the Senate) sending the S&P into the red…

Domestically-focused (and financials-heavy) Small Caps are the worst hit…

It’s been quite a morning after the overnight excitement…

Treasuries are bod with 10Y yields down 3bps…

It seems the market cares about a Trump presidency after all…

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Author: Tyler Durden


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