…at least as far as millionaire investors are concerned.
Millionaire confidence plunged by a record amount in May, sparked by fears of government dysfunction in Washington.
The Spectrem Millionaire Investor Confidence Index, a measure of millionaire confidence in the economy and markets, fell 17 points from April. That's the biggest month-to-month drop ever recorded by Spectrem Group, a Chicago-based wealth-research firm that created the index.
The survey found that almost 4 in 10 (39 percent) of millionaires plan to avoid investing in the coming month — the highest percentage since December 2013.
The main reason for the drop: politics and the turmoil surrounding the Trump administration.
The top concern cited by the millionaires surveyed was the political environment. CNBC
Enough said, the facts are speaking for themselves and this is not fake news.