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March 8, 2018

Stocks wobble on news of Cohn, China

NEW YORK (AP) — “What does it mean for trade?” That question continued to guide Wall Street Wednesday, leading stocks to a mixed finish after President Donald Trump's top economic adviser resigned after opposing the administration's planned tariffs on imports of steel and aluminum.

Stocks fell in the morning as investors reacted to the departure of Gary Cohn, a former Goldman Sachs executive who was seen as a proponent of free trade. The losses deepened after Trump suggested on Twitter that the U.S. may impose penalties on China as part of intellectual property disputes. The Dow Jones industrial average fell as much as 349 points.


 
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