Stocks Suffer Worst Day of the Year Amid White House Chaos - NBC New York

Stocks Suffer Worst Day of the Year Amid White House Chaos

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    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."

    WH Continues Wilson Feud With 'Empty Barrel' Comment

    [NATL] WH Continues Wilson Feud With 'Empty Barrel' Comment

    The White House continues its feud with Rep. Frederica Wilson for the third day, with White House press secretary Sarah Huckabee Sanders doubling down on Chief of Staff John F. Kelly's "empty barrel" critique during a Friday press conference. President Donald Trump, meanwhile, slammed Wilson in a late night tweet on Thursday, calling her "wacky." 

    (Published 15 minutes ago)