S&P 500 and Dow Jones lose patience with President Trump

Trump has alienated some corporate leaders and USA allies with his comments since violence in Charlottesville, Virginia, in the aftermath of a white nationalist protest against the removal of a Confederate statue.

“That’s why we haven’t retraced back to where we were”, said Gennadiy Goldberg, interest rate strategist at TD Securities in NY. “Do they have any semblance of guilt?” While the president has denounced neo-Nazis and white supremacists, he also said there were “fine” people among the demonstrators and that “both sides” were to blame for the violence.

“There were people in that rally – and I looked the night before – if you look, there were people protesting very quietly the taking down of the statue of Robert E. Lee. And I have no doubt about it”.

The death toll could rise because more than 100 are injured, authorities said.

Trump, for example, has in the past mocked Republicans for raising the debt ceiling, but many Wall Street executives say failing to do so could lead to a stock market crash and a recession.

It was hoped that retired general John Kelly, Mr Trump’s new chief of staff, could impose some form of discipline on Mr Trump that his predecessor, Mr Reince Priebus, could not.

CNN reported that White House aides have been sorting through whether to leave Trump’s administration, but that most had decided that leaving now would only hurt them. The market’s reaction to the rumor, however, could dim the chances that Cohn could be elevated to head the Federal Reserve.

The adviser was also called out by name in an American Prospect with the President’s Chief Strategist Steve Bannon where he spoke about his internal administration enemies.

“We’re still fighting”, Bannon told the progressive magazine. As such, there is a lot of faith riding on Cohn, and his departure would mark the complete opposite of what investors are looking for from the White House.

Still, Trump’s inflammatory comments have cast doubt Trump’s ability to enact his economic agenda, according to CNBC.

Speculation over another possible defection in the White House administration, this time from Gary Cohn, a key advisor to President Trump on the United States economy, has stirred investor demand for safe haven assets.

Treasury Secretary Steven Mnuchin is a former Goldman banker, and is working with Mr Cohn to try to shepherd through the President’s tax cuts for corporations and individuals.

The Dow Jones industrial average nosedived 274 points on Thursday as investors grew increasingly concerned that Trump’s toxic tongue is endangering his ambitious economic agenda.

But before he achieved insane wealth and status, Cohn was a middle-class kid in Cleveland who struggled with dyslexia, a disorder that makes it more hard to read and write.