The markets were shaken early this morning as news broke that Trump's former national security adviser, Michael Flynn, plead guilty to lying to the F.B.I. about his dealings with Russia. As part of this plea, Flynn is now expected to fully cooperate with the investigation of special counsel Robert Mueller into potential Russian meddling in the U.S. election; one report suggested Flynn will testify that Trump personally directed him to collude with the Russians.
The Dow 30 immediately plummeted 300 points on the news, but did recover most of that by the close. For the day the Dow 30 lost 40, the S&P 500 closed lower by 5, and the Nasdaq 100 lost 26. Some of this recovery was attributed to news that the Senate Republicans officially believe they have enough votes to pass tax reform.
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- https://www.cnbc.com/2017/12/01/us-stock-futures-data-opec-tax-on-the-agenda.html
- https://www.cnbc.com/2017/11/30/amazon-holding-exploratory-talks-with-generic-drug-makers.html
- https://www.usatoday.com/story/money/food/2017/12/01/blue-apron-replaces-ceo-founder-matt-salzberg-after-post-ipo-fumbles/912721001/