Stocks Suffer Worst Day of the Year Amid White House Chaos - NBC10 Boston

Stocks Suffer Worst Day of the Year Amid White House Chaos

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    NEWSLETTERS

    Checklist for a Healthier Fall
    AP
    In this Oct. 7, 2016 file photo, a sign for Wall Street is carved into a building located near the New York Stock Exchange.

    U.S. stocks closed sharply lower on Wednesday as investors digested the latest news out of Washington, with the Dow Jones averagine about 370 points lower, Goldman Sachs contributing the most losses, CNBC reported.

    The broader S&P 500 and Nasdaq also lagged, dropping 1.8 percent and 2.6 percent respectively.

    Stocks had rallied all year in part because of hope for lower corporate taxes. But "an impeachment proceeding would blow the market away," former General Electric CEO Jack Welch told CNBC.

    "This is clearly Washington-driven," said Michael Shaoul, chairman and CEO of Marketfield Asset Management. "It's a lot like 1998-99, when the market had to deal with the [Monica] Lewinsky scandal."

    This Kentucky Election Was Decided by a Coin Toss

    [NATL] This Kentucky Election Was Decided by a Coin Toss

    One week after the votes were counted, a coin toss was used to settle a City Council race that ended in a tie in Crescent Springs, Kentucky. Jennine Bell Smith and Patrick Hackett, both write-in candidates for Crescent Springs City Council, tied with exactly 79 votes. 

    (Published Wednesday, Nov. 14, 2018)