U.S. equities fell on Thursday on concerns President Trump’s recent controversies will make it less likely for Congress to work with him to pass business-friendly legislation. The Dow Jones industrial average fell 274.14 points to close at 21,750.73. The index also snapped a four-day winning streak and posted its biggest one-day drop since May 17. Cisco Systems was the biggest decliner on the Dow after sales for one of its key segments rose less than expected. The index
started falling earlier on fears that Gary Cohn, a business friendly advisor to the president, could resign his role as director of National Economic Council because of Trump’s remarks following the violent protests in Charlottesville, VA. “This [situation] is definitely disappointing for investors holding out hope for tax reform,” Mike Baele, managing director at U.S. Bank Private Client Reserve. READ MORE
