Futures Down Big

Futures for the S&P 500 are trading down big right now after John Boehner pulled his tax bill because he doesn’t have enough votes. Boehner had been pushing his Plan B bill to counteract the president.

A move like this isn’t completely unexpected. Both sides need to prove to their bases that they’ve done all that they can do. They’re both willing to use the market as the one who vetoes their pretend standoff. On Tuesday, I tweeted:

In the next two weeks the S&P 500 will drop 2% in a day as someone is accused of undermining the good vibes from the Cliff negotiations.

Two weeks? More like two days.

Posted by on December 20th, 2012 at 8:29 pm


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