The question is, will it turn into something more pernicious? Of course time will tell. I do believe that we should distinguish the President Trump of 2018, from the one of 2017.
As does famed economist Ed Yardeni:
"Trump is probably the most bullish and bearish president we've ever had" in terms of tax reform (on the bullish end) and uncertain trade policy (on the bearish end)"At a minimum, a return to his 2017 self, and, therefore, the market conditions that go with it, would, as I suggested earlier today, be hugely in the President's political best interest.
As for what savvy investors (vs short-term traders) ultimately care about, Tom Essaye captures it nicely:
"To be sure, it’s not that everyone sees an imminent threat to markets should the investigations continue. According to Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” market newsletter, markets only care about policy, so unless the proceedings affect tax or trade legislation, fallout should be contained.""