The Largest Domestic Selloff of 2017 along with a Brazilian Market Crash in the Weekly Market Update by Valeo Financial Advisors (May 20, 2017)
May 20, 2017    Disclosures    POSTED IN  InvestmentsEconomyMarkets

On Wednesday, domestic markets experienced their largest selloff of 2017 declining 1.8% for the S&P 500.  Political concerns surrounded much of the sentiment behind the event.

Brazilian markets were rattled this week due to allegations that President Michel Temer endorsed payments of hush-money to the former speaker of the lower house.  Immediately following the release markets declined more than 10% and the Brazilian Real had its steepest drop in 14 years.  The news could result in a second impeachment within a year.

Economic data released for the U.K. helped push a Pound rally to break $1.30 for the first time in nearly three quarters.  Unemployment fell to their lowest level since 1975 at 4.7%.

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