Together with the Maga faithful and allegedly trading by Republican politicians, US retail investors have reacted to each policy assault on a sector or a stock, such as Intel Corp, by buying the dip. This prevailing mentality helped support the ageing US bull market, which has been on a tear since late 2022, thanks to the Magnificent Seven stocks and the more recent run inspired by artificial intelligence.
It has been just over six months since The Daily Show, America’s hit late-night chat show, which has been running since 1996, shifted from Times Square to the White House with President Donald Trump’s second term.
Whether it is alternative facts promulgated by or defended by press secretary Karoline Leavitt or Trump’s musings on his Truth Social platform in the dead of the night, the impact has been felt across markets, changed the outcome of elections from Canada to Australia and thrown many polite diplomatic and political conventions out of the window. Initially, the knee-jerk and often violent market reactions had given way to the assumption that flips will follow flops and markets will rally in relief.
