Deepening US political controversy stalks markets

FT/Jamie Chisholm & Michael Hunter/05-17-17

Investors were retreating to the sidelines on Wednesday and seeking havens on concerns that President Donald Trump’s ability to push through his pro-growth policies will be sidelined by deepening political controversy.

Reports that Mr Trump sought to interfere in an FBI investigation is the latest controversy to ensnare the White House, damping global risk appetite and causing some investors to seek the perceived safety of government bonds, gold and the Japanese yen.

PG View: In a separate article, the FT acknowledged that the deepening controversy “delivered a boost to the price of gold.”

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