Market Insider

Political sideshow could preoccupy US markets

Traders on the floor of the New York Stock Exchange.
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Stocks on Wall Street could flounder again Wednesday as traders watch the political sideshow in Washington and prepare for quarter end.

"I think the last four days are really telling us that something has changed in the market," said Peter Boockvar, chief market analyst at the Lindsay Group. "Something's changed. I just think we pushed the spread between the underlying fundamentals in the stock market too far from asset prices."

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Stocks sagged Tuesday after a squishy performance Monday. The was the bright spot, up 2 points at 3768, while the fell 66 points to 15,334, and the S&P 500 slid 4 points to 1697. Treasurys rallied, with the 10-year yield moving to 2.65 percent.