New York CNN —President-elect Donald Trump’s favorite barometer of his success — the stock market — had been humming since his reelection. The market’s strong reaction shows that the Fed, ultimately, could weigh more heavily on markets than Trump’s policymaking going forward. And just like that, the post-election stock market rally has been almost entirely erased. “Powell just reminded us that nothing in life comes easy,” Callie Cox, chief market strategist at Ritholtz Wealth Management, told CNN, referring to recent gains the stock market has seen. Of course, stock investors knew all this.

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Persons: Donald Trump’s, Jerome Powell, Stocks, ”, Hogan, spooked, Trump, wasn’t Trump’s, “ Powell, Callie Cox, ” Hogan, Sam Stovall, “ FOMO, ” Stocks, “, Rob Haworth, Powell Organizations: New, New York CNN, Business, Fed, Dow, Riley Investments, Wednesday, Ritholtz Wealth Management, CNN, Trump, “, Treasury, CFRA Research, Bank Wealth Management Locations: New York, America