– President Trump fails to repeal Obamacare

President Trump, on Friday, failed to secure backing from congress on legislation to repeal former President Obama’s Affordable Care Act. Main opposition came from a group of staunch conservative Republicans called the ‘Freedom Caucus’. The US dollar and the S&P 500 sold off in the wake of the result, European markets have also opened up lower today on the news. Failure to repeal Obamacare has been seen by markets as a stumbling block to the President being able to deliver on the reform agenda he was elected to introduce, this is causing some nervousness. The White House was keen to move on from the blow, with Chief of Staff Reince Priebus, announcing the president would be moving onto tax reform.