Weekly Market Commentary 03/24/2017

Turbulence reared its head in the financial markets this week, with the S&P 500 stock index recording the first daily drop of more than 1% since October 11 on Tuesday. Turbulence and uncertainty go hand-in-hand, and the political shenanigans on Capitol Hill provided more than enough spark to heighten angst among investors. At issue is whether House Republicans would garner enough votes within their own party for the proposed American Health Care Act, the bill designed to replace Obamacare, which appeared not to be the case, as the bill was pulled before it could be voted on late Friday. As a result, the ability of the administration to implement its broader tax and spending agenda now comes into question.