A big selloff on Wall Street (^DJI, ^GSPC, ^IXIC) as financials and materials take a tumble. Plus – will the *health care* battle hurt Trump’s tax reform? Why the markets aren’t happy And – is the Fed too late to the party, or turning out the lights *too early*? Economist Chris Rupkey expains. Catch The Final Round at 4 p.m. ET with Justine Underhill and Yahoo Finance markets correspondent Myles Udland.
Winners and losers
Stocks falling with the broader market today include Canadian Solar on a profit and guidance miss, La Jolla Pharmaceutical on a $100 million secondary offering, and Cheetah Mobile as the Chinese mobile app developer announced its CFO is resigning.
Stocks in the green include Chipotle on a report that March same-store sales are trending higher, Deutsche Bank after the Justice Department closed a criminal inquiry into currency-trading activities, and Callaway Golf as the Big Bertha maker’s rating was reiterated by analysts at Pacific Crest.
What it will take for the Fed to raise rates?
One rate hike down, and two more to go this year… that’s what we learned from the Fed as they increased rates to 1 percent last week, but some say that 1 percent is too little too late. Joining us now is Chris Rupkey, chief financial economist at MUFG Union Bank.
Looking ahead
Tomorrow at 1PM Eastern Yahoo Finance will be streaming Starbucks’ annual shareholder meeting. Howard Schultz, and the new CEO Kevin Johnson will be speaking… so grab your venti skim latte and check it out.
