Three Stories Affecting Your Wealth This Week
It was a difficult week for investors, as the Standard & Poor's 500 stock index closed lower for the third straight week. The S&P 500 Index sank 1.3% on Friday. Closing at 2,752.06, the S&P 500 index was 6.5% from its all-time high on April 30th.
Friday's stock market drop came after President Donald J. Trump threatened late on Thursday that, unless the flow of South American migrants crossing into the U.S. through Mexico is reduced, the U.S. would impose a 5% tariff on imports from Mexico starting June 10th, which would raise the levy on goods coming from Mexico by 5% a month to 25%.
The last of the three big stories affecting investors this past week was the passage of sweeping tax legislation by the U.S. House of Representatives on May 29th. Entitled, "Setting Every Community Up for Retirement Enhancement Act of 2019," the SECURE Act is expected to be passed by the Senate and has the support of President Donald J. Trump. Although the legislation may not be signed into law until late this year, individuals with retirement accounts should consider how its enactment will affect them and their beneficiaries.
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- Three Stories Affecting Your Wealth This Week
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- Real Economy Strengthens, Yield Curve Inverts And Mueller Report Drops
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