The First 200 Years. Some Wall Street players say President Nixon's troubles are more relevant to the current White House's difficulties. But he and other analysts and historians noted that the Nixon resignation had been anticipated for some time as the events of Watergate unfolded over more than a year. These events came in the midst of a decade-long recession, which makes it difficult to assess precisely the role his resignation played in the market's behavior. The possibility of a Clinton resignation or impeachment is currently considered a far-off prospect by Wall Street.
Markets hate that kind of uncertainty. . . .
But by the time the president is packing his bags and waiting for the helicopter on the South Lawn, the markets will already have anticipated and discounted it. There was some concern this morning that stock prices might be reacting to news reports of possible Clinton wrongdoing after the market opened with an 80-point slide. The Dow Jones industrial average ended the day at 7730.88, a decline of 63.52 points. Stocks of tobacco companies were the one sector said to be feeling the influence of Clinton's troubles. The tobacco investors clearly are going to feel more anxious. . . .