FBI Reopens Case Against Clinton as Markets Shudder

Financial markets were rocked on Friday, 28 October 2016 as the FBI director, James Comey announced that his organisation had reopened its case against former Secretary of State, Hillary Clinton. Comey announced a new probe into Clinton’s email use with a letter that he penned to Congress. In his address to Congress on Friday, Comey announced that the FBI had found additional emails that were pertinent to the email investigation of Hillary Clinton. The FBI wants to examine an estimated 10,000 emails for what it deems ‘classified information’. In response to the shock announcement, the chairman of the Clinton campaign, John Podesta had this to say: ‘No one can separate what is true from what is not, because Comey has not been forthcoming with the facts.’

What is surprising is that even GOP lawmakers were critical of the FBI director’s timing. According to unconfirmed reports, the investigation into humiliated congressmen Anthony Weiner prompted the FBI to reopen its case into Hillary Clinton’s email saga. Weiner’s estranged wife, Huma Abadin, is a close confidant of Hillary Clinton, and has been for approximately 20 years. The emails were found on a computer that she shared with Anthony Weiner. The computer was turned over to the FBI as part of an investigation, but the Department of Justice has not issued a warrant for the FBI to review the material.

Financial markets have reacted with shock and horror that just 11 days before the election, the front-runner and leading candidate for president of the United States could be indicted in a criminal investigation. At the time that the announcement was made on Friday, the S&P 500 Index, the Nasdaq Composite Index and the Dow Jones Industrial Average plunged between 12 PM and 2 PM. Markets subsequently inched higher towards the close of the day, but ended approximately 0.3% lower. Prior to the announcement by the FBI director, the S&P 500 Index was up 0.4%.