Trump rally hits the skids as stock markets see quarterly drop – New York Post

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All good things come to an end.

The Dow Jones industrial average and S&P 500 — which had posted nine straight quarterly increases, saw that streak come to an end on Thursday.

The quarterly drop in the much-followed indexes were the first since President Trump took office.

The Dow closed the quarter on Thursday — marts are closed on Good Friday — off 2.5 percent. The S&P dipped 1.2 percent.

“It’s been a tumultuous quarter, which is something we haven’t been used to,” Quincy Krosby, chief market strategist at Prudential Financial, told The Post.

The Dow started 2018 on fire — after gaining 20 percent in 2017 — but the exuberance was tamped down in February as better-than-expected employment data stoked fears the Federal Reserve would be more aggressive in raising rates to slow an overheating economy — while fears of a trade war with China didn’t help.

After digesting the first quarter decline, Wall Street has a cautious eye to the future.

“What we’re going to look for is leadership in the market,” Krosby said, noting that higher weightings in defensive stocks would signal caution, while investors holding cyclicals would suggest bullishness.

“We’re expecting volatility to remain elevated for some time, until we get some clarity,” Rob Haworth, US Bank Wealth Management senior investment strategist, told The Post.

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