Comment by wnmurphy

Another factor I don't see mentioned: every Trump policy is inflationary. Deporting the labor base, deterring legal immigration, applying tariffs that were basically derived by taking the trade deficit with a country and dividing by 2, and now locking up 20% of the global oil market by shutting down the Strait of Hormuz.

The Fed's response will have to be to raise rates, which is going to crush the multiple of any stock whose valuation is based on the expectation of massive growth.