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FTSE Slips on Trump Impeachment Fears

The FTSE 100 slipped by 26 points on Friday, as fears surfaced that President Trump may be impeached. According to some news reports, former national security adviser Michael Flynn has promised that he will cooperate fully with the ongoing special counsel investigation into the allegations that Russia was involved in the presidential election.

stroju-sam.ru - Saturday, December 02, 2017

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Flynn has pleaded guilty to lying to the FBI. Ty Cobb says that Flynn’s plea does not implicate the president himself in any wrongdoing.

The FTSE 10 had been trending upwards during the early afternoon, but was unable to hold on to those gains.

Meanwhile, Bitcoin has proven to be the attention seeker of the day - out-trending Trump, North Korea and Kim Kardashian combined. A part of the motivation for those searches was the news that Bitcoin futures trading has been approved by financial regulators in the US - with CME and CBOE expected to be among those carrying contracts.

Bitcoin still has detractors - Goldman Sachs chief executive Lloyd Blankfein said that the currency’s high level of volatility means that it is not suitable for the bank to get involved with it - moves of as much as 20 percent on a daily basis make it not a good store of value for them. Blankfein does, however, admit that there is the possibility of them getting involved with Cryptocurrencies in the future - although other investment banks have went on record to say that they do not feel the same way, and that Bitcoin in particular is not suitable for them.

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