Stocks sharply drop after FBI probe new Clinton emails

FBI Director James Comey stated in a letter, “In previous congressional testimony, I referred to the fact that the Federal Bureau of Investigation had completed its investigation of former Secretary Clinton’s personal email server. Due to recent developments, I am writing to supplement my previous testimony,” Comey wrote. “In connection with an unrelated case, the FBI has learned of the existence of emails that appear to be pertinent to the investigation. I am writing to inform you that the investigative team briefed me on this yesterday, and I agreed that the FBI should take appropriate investigative steps designed to allow investigators to review these emails to determine whether they contain classified information, as well as to assess their importance to our investigation,” he added.

“Although the FBI cannot yet assess whether or not this material may be significant, and I cannot predict how long it will take us to complete this additional work, I believe it is important to update your Committees about our efforts in light of my previous testimony,” Comey.

U.S. equities lost its gains after the Federal Bureau of Investigation announced the investigation of new emails pertaining to Democratic nominee Hillary Clinton. Stocks have remained in a tight range over the past three months with the S&P moving 1.4 percent over that time period. “What we’re seeing under the hood is fewer and fewer stocks leading the market higher,” said Adam Sarhan, CEO at Sarhan Capital. “When you see days like this and yesterday, … that tells you that the sellers are still in control.”

The FBI announcement caused a sharp fall in the SPDR S&P 500 ETF Trust (NYSEARCA:SPY), a unit investment trust that seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 Index. With the U.S.

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