Wall Street Falls As Investors Digest Political Misfortunes By Investing.com

Investing.com – Wall Street fell on Thursday as investors digested new developments related to a formal dismissal investigation by President Donald Trump.

The 35 points or 0.1% lost around 9:55 (ET) (13:55 GMT), while the S & P 500 was down 10 points or 0.3% and the decline by 46 points or 0.6%.

A US House Intelligence Committee has released a declassified version of a whistleblower report that Trump allegedly attempted to have Ukraine investigate Hunter Biden, whose father, Joe, would likely be opposed to the 2020 presidential election.

According to the report of the whistleblower, officials of the White House have tried to "lock" a transcript of the call, knowing that it had revealed an irregularity on the part of the president. Trump himself authorized the publication of the transcript Wednesday, saying that he had nothing to hide.

The US House of Representatives began Tuesday the impeachment process on the basis of allegations, causing inventories to fall earlier in the week. However, the markets recovered after Trump hinted that a trade deal with China could soon be concluded.

"We need something like a trade agreement to pass. Without that, we will only bounce back where you get bad political news, it sells, "said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh.

Bank stocks fell, with Bank of America (NYSE 🙂 down 0.3%, while JP Morgan plunged 0.3%. Amazon.com (NASDAQ 🙂 fell 1.2%, Facebook (NASDAQ 🙂 lost 1.7% and Accenture (NYSE 🙂 lost 0.7% after its forecast for the current fiscal quarter were below expectations.

Elsewhere, Beyond Meat (NASDAQ 🙂 jumped 11% after McDonald's (NYSE 🙂 announced it was testing the herbal burger in some of its Canadian stores.

In commodities, the, which measures the greenback versus a basket of six major currencies, lost 0.2% to 98.488 and increased 0.4% to $ 1,517.75 troy ounce . lost 1.2% to $ 55.88 per barrel.

-Reuters contributed to this report