The market can't really predict upcoming policy or trial failures.
The stock market has been a lousy prognosticator of late. Prior to the election, Mr. Market seemed utterly convinced of a Clinton win. (It didn't happen.) Then, as the outcome looked clear, it predicted panic—then galloped giddily into euphoria. (Hapless traders trying to chase these ups and downs no doubt mistimed them—because, well, it's a sucker's game to try to time the market. But then you knew that…)
