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Market Snapshot: Stock market faces crucial test as Trump suffers setback

AFP/Getty Images
President Donald Trump’s political setback will be a critical test for the stock market.

The stock market will face its moment of truth next week as euphoria over President Donald Trump’s lofty agenda to “make America great again” collides with the realities of U.S. politics.

Trump suffered a major blow on Friday when House Republicans withdrew the American Health Care Act after they failed to secure enough votes to pass the bill.

The withdrawal is a setback to the president who had promised to repeal and the replace the existing Affordable Care Act with a superior plan and casts doubt on how quickly his administration will be able to deliver on other key pledges such as tax reforms.

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