The Trump-market honeymoon is officially over

US STOCKS finished slightly lower last week as a spreading political scandal caused the biggest drop in major indexes since the presidential election. The stock market is likely to remain on edge this week as traders await a sense of restored political stability.

The Dow Jones Industrial Average fell by more than 370 points and the dollar gave back all of its Trump-era gains after revelations about the president's exertion of pressure on then-Federal Bureau of Investigation director James Comey.

For six months after the election, faith that Mr Trump would succeed in pushing through pro-growth legislation on tax cuts and deregulation outweighed all other market interpretations of his chaotic style of governing. Scandals came and went, but the stock market bulls kept buying stocks because, with a Republican congress, Mr Trump was bound to do more good than harm for corporate America…