What Market Players Are Saying About Cohn’s Departure
- JonesTrading sees resignation as ‘most meaningful’ for markets
- Lower trade, global growth might spur Treasury haven demand
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The resignation of Gary Cohn as top White House economic adviser roiled markets Wednesday, sending the dollar down against the yen and U.S. stock futures lower. While global equities recovered from a trade-induced blow last week, graver concerns are emerging.
The White House said late Wednesday that Cohn is leaving his post, a move that followed his apparent loss in a battle to halt U.S. tariffs on aluminum and steel. A separate report showed President Donald Trump’s administration is considering imposing tariffs on a broad range of Chinese imports for its alleged theft of intellectual property -- a further sign of protectionist advocates’ influence on the agenda.