{"id":103009,"date":"2017-05-18T00:48:21","date_gmt":"2017-05-18T04:48:21","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=103009"},"modified":"2017-05-18T00:48:21","modified_gmt":"2017-05-18T04:48:21","slug":"u-s-stocks-fall-sharply-on-trump-controversy","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/05\/18\/u-s-stocks-fall-sharply-on-trump-controversy\/","title":{"rendered":"U.S. stocks fall sharply on Trump controversy"},"content":{"rendered":"
\"U.S.<\/a>
U.S. stocks fell sharply on Wednesday as investors feared that turmoil in Washington would weigh on the market and Trump administration’s reform agenda would be slowed down.(Photo: Gage Skidmore\/Flickr<\/a>)<\/figcaption><\/figure>\n

NEW YORK\u2014U.S. stocks fell sharply on Wednesday as investors feared that turmoil in Washington would weigh on the market and Trump administration’s reform agenda would be slowed down.<\/p>\n

The Dow Jones Industrial Average slipped 372.82 points, or 1.78 percent, to 20,606.93. The S&P 500 lost 43.64 points, or 1.82 percent, to 2,357.03. The Nasdaq Composite Index shed 158.63 points, or 2.57 percent, to 6,011.24.<\/p>\n

The White House on Tuesday pushed back against a new wave of media allegations that Trump might have tried to obstruct justice by asking ex-FBI Director James Comey to end a probe into former national security adviser Michael Flynn.<\/p>\n

“I hope you can let this go,” Trump told Comey at the time, according to a New York Times report, quoting two people who read the memo Comey wrote shortly after meeting with Trump in the Oval Office one day after Flynn resigned over a Russia-related scandal in February.<\/p>\n

Investors have been shocked by the news and worried Trump’s ability to deliver on business-friendly policies.<\/p>\n

U.S. stocks have posted solid gains since the presidential election, with the S&P and Nasdaq notching all-time highs earlier this week, in part because of the hope for tax reform plan.<\/p>\n

Meanwhile, the first quarter earnings season has also been in focus. The latest data from Thomson Reuters showed that the S&P 500 companies’ blended earnings in the first quarter of 2017 are expected to rise 14.7 percent year on year, while the revenues are forecast to increase 7.2 percent.<\/p>\n

U.S. stocks wavered and traded in a narrow range Tuesday, as Wall Street mainly digested Home Depot’s better-than-expected quarterly results and newly-released economic data.<\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK\u2014U.S. stocks fell sharply on Wednesday as investors feared that turmoil in Washington would weigh on the market and …<\/p>\n","protected":false},"author":33,"featured_media":100715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[19244,13552],"class_list":["post-103009","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-trump-controversy","tag-u-s-stocks","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/103009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=103009"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/103009\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/100715"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=103009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=103009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=103009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}