May 17, 2017 - Economy
Dow drops 370 points amid Trump chaos
Add Axios as your preferred source to
see more of our stories on Google.
The Dow and the S&P recorded their worst day since September 2016 on Wednesday, and the Nasdaq posted its worst since June. Goldman Sachs contributed the most losses.
Investors are nervous because, as CNNMoney put it:
"The common 'I word' in the market lexicon -- inflation -- is now being replaced by whispers of impeachment."
Another key indicator they're nervous is that gold prices are spiking in the last week, during which Trump fired Comey and reportedly revealed classified intel to Russia.
These headlines sum it up:
- Reuters: "Wall Street tumbles as reform hopes fade with Trump crisis"
- The Washington Post: "Turmoil over recent Trump controversies triggers the Dow's biggest losses since September"
- CNBC: "Dow sheds 370 points; stocks close lower and wipe out monthly gains on Trump fears"
- MarketWatch: "Nasdaq suffers biggest daily drop in nearly a year, as fear gauge soars on Trump worries"
- CNNMoney: "Dow dives 373 points as Trump drama rattles market"
- Investor's Business Daily: "Stock Tumble On Trump Woes; Dow Down 250 Points"
- NBCNews: "Dow Closes Down 372 Points as Markets Lose Confidence in Trump"
