The significance of Trump's economic advisor Gary Cohn's resignation was the day's big concern today. Asian shares were the first to register an opinion, as the resignation came after the close of US markets yesterday. The Asia Dow was down 0.93%, worried about the loss of one of Trump's most experienced advisors who was largely responsible for pro-business policies, and strongly opposed to any new tariffs. Europe's STOXX 600 started off similarly weak, but strengthened throughout the day to close up 0.36%.
US shares opened down less than expected, but traded in the red all day long (except for the NASDAQ, which was slightly higher for a short while). A good ADP jobs number helped, but by closing time, stocks were mostly lower after another wild back and forth session.
The Dow Industrials lost 91 points, the S&P lost one point, but the NASDAQ was up 25 points. The VIX finished at 17.75.
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