SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

US markets end sharply lower on Italy’s political turmoil

30 May 2018 Evaluate

The US markets ended sharply lower on Tuesday with the Dow industrials down nearly 400 points as traders reacted to fresh political drama in Italy after a three-day weekend. Italy’s president has appointed a former International Monetary Fund official as interim prime minister with the task of planning for snap polls and passing the next budget after weeks of uncertainty. Geopolitical uncertainty also kept some traders on the sidelines following President Donald Trump’s decision to call off the historic summit with North Korean leader Kim Jong Un. In a post on Twitter, Trump seemed pleased with the North Korean response to the cancellation of the planned meeting. The tweet from Trump came after the North’s state-run Korean Central News Agency carried a statement by Vice Foreign Minister Kim Kye-gwan. In the statement, Kim indicated North Korea remains willing to hold talks with the U.S. and expressed a willingness to give Trump the time and opportunity to reconsider his decision.

Meanwhile, sentiments also remained dampened on the back of latest batch of U.S. economic data, including a report from the Commerce Department showing a bigger than expected decrease in durable goods orders in the month of April. The Commerce Department said durable goods orders slumped by 1.7 percent in April after spiking by an upwardly revised 2.7 percent in March. The street had expected orders to drop by 1.4 percent. Excluding a pullback in orders for transportation equipment, however, durable goods orders climbed by 0.9 percent in April after rising by 0.4 percent in March. Ex-transportation orders had been expected to increase by 0.5 percent. A separate report from the University of Michigan unexpectedly showed a modest deterioration in consumer sentiment in the month of May.

The Dow Jones Industrial Average tumbled 391.64 points or 1.58 percent to 24361.45 and the S&P 500 declined by 31.47 points or 1.16% to 2,689.86 and the Nasdaq was down by 37.26 points or 0.50 percent to 7396.59.


About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: