Markets don’t care about Trump’s impeachment, and nor should you

America impeaching its president might sound like a big deal. But markets shrugged it off. You should too, says John Stepek. It’s political showboating that will have very little practical outcome.

House Speaker Pelosi Holds News Conference Following Vote On Impeachment Of President Trump

Democrats have voted to impeach Donald Trump
(Image credit: © 2019 Bloomberg Finance LP)

Yesterday, for only the third time in history, the president of America was impeached.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.