The Daily Prophet: This May Be the Day the Trump Trade Died

Maybe investors should forget the Trump trade and start prepping for the Trump correction. U.S. stocks had their worst day since October. The dollar can't seem to find a bottom. There's no rebound in sight for oil. Havens such as Treasuries and gold are back in vogue. There's an undeniable "risk off" vibe reverberating through markets.

The optimism that accompanied Donald Trump's U.S. election victory was built on a trinity of lower taxes, infrastructure spending and regulatory reform. Now, doubts are rising about any of those being realized, even with Republicans controlling the White House and Congress. The Obamacare replacement bill is struggling to gain support from House conservatives and Senate Republicans, and some GOP lawmakers argue that a once-in-a-generation opportunity to overhaul the U.S. tax code with cuts for businesses and individuals depends on the outcome. Bank, industrial and technology shares -- some of the biggest beneficiaries of the Trump trade -- were the biggest losers.