FTSE 100 hits seven-month closing low as market sell-off deepens

Trump’s mantra of ‘Making America Great Again’ is echoing across the US economy as third quarter GDP growth outpaced market consensus with a print of 3.5%. Consumer spending and businesses increasing their inventories aided the strongest back to back quarters for growth in over two years.

Today’s print was crucial for Trump and the GOP ahead of the Midterm elections as GDP seems to be aligning with the President’s target for 2018, however it could spark the Fed to consider a more aggressive monetary policy.

 

Balraj Sroya quoted in the Guardian

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