Home Stock Market Dow futures down about 200 points on news of Cohn's resignation from Trump's White House

Dow futures down about 200 points on news of Cohn's resignation from Trump's White House

2 min read

U.S. stocks look poised to fall on Wednesday following news late Tuesday that National Economic Council Director Gary Cohn ihas resigned from President Donald Trump’s administration in the coming weeks. Cohn, a former Goldman Sachs Group Inc.

GS, -0.44%

executive, was seen as a level head within the administration and one of the chief architects of Wall Street-friendly corporate tax cuts signed into law late last year. Speculation about Cohn exiting the White House following Trump’s reaction to violence at a white-supremacist rally in Charlottesville, Va., in August similarly roiled markets. Futures for the Dow Jones Industrial Average

DJIA, -0.36%

were down about 200 points, or 0.9%, at 24,628, while those for the S&P 500

ESH8, -0.19%

were down 0.6% at 2,707. Cohn’s planned departure comes amid turmoil in the White House over Trump’s plan to implement tariffs on steel and aluminum imports, which Cohn has opposed, arguing that it could undercut the Trump’s economic achievements, according to reports. The loss of Cohn is viewed by some on Wall Street as a headwind to the president’s pro-business agenda and underlines ongoing turmoil in the White House, highlighted by a parade of departing officials.

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Stock market, dollar rattled after Gary Cohn resigns from Trump White House

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