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

    Stocks Suffer Worst Day of the Year Amid White House Chaos
    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."

    Footage From 1992 Shows Trump, Epstein at Party

    [NATL] Footage From 1992 Shows Trump, Epstein at Party

    NBC released footage in its archives from 1992 of Donald Trump and Jeffrey Epstein at a party at Trump’s Mar-a-Lago estate. The video shows them laughing and pointing as they appear to talk about women at the event, NBC News reported. Trump has said he knew Epstein, but “was not a fan” and they have not spoken in 15 years.

    (Published Wednesday, July 17, 2019)