WASHINGTON TURBULENCE ROCKS STOCKS: Dow Closes Down More Than 370 Points

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The Dow Jones Industrial Average closes down 372 points following the claim that President Trump asked ex-FBI Director James Comey to drop a probe into former National Security Adviser Michael Flynn.

The Dow Jones industrial average ended about 370 points lower, with Goldman Sachs contributing the most losses. The S&P 500 dropped 1.8 percent, with financials tumbling 3.1 percent to lead decliners. Financials posted their worst day since June 24 were pulled down by banks, with the SPDR S&P Bank ETF (KBE) falling 3.9 percent.

The Nasdaq composite lagged, shedding 2.6 percent, and posted its worst session since June 24.

The major indexes also gave up their gains for the month. The Dow and S&P also recorded their worst day since September of last year.

(AP)




3 COMMENTS

  1. If the economy (or anything else goes wrong) in the next few years, the Republicans are increasingly going be able to blame it on the unprecedented “Resistance” movement. That the business community, most of whom can’t stand Trump on a personal level, is getting unhappy at the decreasing prospect of Trump getting his proposals approved.