Wall Street Alarmed as Cohn Departure Fires Up Trade War Angst
- Investor ‘can’t believe this is happening’ as adviser quits
- Three days of gains in jeopardy as investors worry about trade
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Peace proved fleeting in markets as investors fretted Gary Cohn leaving the Trump administration prunes it of a key source of stability just as signs of a trade war are multiplying.
U.S. stock futures fell for the first time in four days, mirroring declines in European and Asian equities, after the former Goldman Sachs Group Inc. executive said he was stepping down as President Donald Trump’s top economic adviser. For traders, it promised another round of turbulence after rising bond yields and protectionist threats caused share volatility to double over the last month.