Tax cuts already doneOne crucial difference between now and previous Trump crises is that Wall Street already got the massive corporate tax cut and deregulation it wanted from Washington. Recall how in May 2017, long before the tax law was enacted, stocks briefly plummeted after Trump fired FBI director James Comey. Consumers not rattled -- yetWall Street may be looking past the Trump turmoil because it's very difficult to determine what happens next -- and even harder to explain what the economic consequences are. Parallels to late 1990sHistory suggests Wall Street can overcome political drama -- at least during a healthy economic environment. Wall Street could respond negatively if Trump's own actions further destabilize the situation.

Source: CNN August 22, 2018 15:11 UTC