On Monday, the S&P and Dow hit milestones. It was only the start of the week, but little did we know we were beginning at the peak.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeon Monday after the company announced a surprise stock buyback plan amounting to roughly 10 trillion South Korean won over the next 12 months. Monday's rise is a cherry on top of Samsung's shares, which surged 7.2% on Friday.
A slump in pharmaceutical stocks dragged down the S&P and Dow. It was triggered by Trump announcing he was planning to nominate Robert F. Kennedy Jr., who has expressed unorthodox beliefs on health, to lead the U.S. Department of Health and Human Services. For instance, Trump's proposed tariff and tax cuts will buoy up small caps and expand corporate profits but might also keep inflation hot and interest rates high. Those were the worries weighing on markets last week, which brought the S&P back to its level in mid-October,
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