The world’s most widely followed stock-market benchmark slid into a correction on Thursday, a drop that underscores how the two-year-long bull market is running out of steam in the early days of the Trump administration. The move stems from investors’ growing pessimism about the whipsawing policy pronouncements from Washington over the past few weeks. On-again,
President Trump made a lot of promises on the campaign trail last year. Investors and business leaders enthusiastically cheered some, like lower taxes and relaxed regulation, and expressed wariness about others, like tariffs and reduced immigration. But when Mr. Trump won the election, there was little sign of that ambivalence: Stock prices soared, as did
President Trump signed an executive order on Thursday to create a national stockpile of Bitcoin and other digital currencies, an audacious idea that has been widely criticized as a scheme to enrich crypto investors. The basis of the stockpile will be a stash of Bitcoin, estimated to be worth as much as $17 billion, that