James Comey Fired

On May 9, President Trump fired FBI Director James Comey, who was the top official involved in the investigation into Trump’s ties with Russia. The next day, the Dow and the Standard & Poor’s 500 index were both down 1.8 percent, triggering fears that the market would experience a correction. However, real estate and utilities, both seen as defensive investments, actually finished the day up 0.6 percent and 0.2 percent, respectively. These fears were short-lived, as the stock market has continued to perform well since Comey’s dismissal.