Why Wall Street is so fixated on Gary Cohn’s position in the White House
|08/19/2017||Posted by BusinessMediaguide.Com under General World News||
Markets tumbled on Thursday after rumors swirled that Gary Cohn, President Donald Trump’s top economic adviser and formerly Goldman Sach’s number two, was resigning.
The S&P 500 slumped at around 10 a.m. ET, after the rumors began swirling on Twitter. Gold, a traditional safe haven trade, climbed as investors pulled into safety assets.
The White House denied this was happening, and Cohn (as of the time this post was written) was still in. Still, Wall Street’s jitteriness reflects fears that a Cohn departure would stifle some of the administration’s business-friendly ideas.
“I don’t want to be an alarmist, but there is read more >>>