Trade worries sink stocks as Trump economic adviser departs
March 8, 2018
NEW YORK (AP) — U.S. stocks are lower Wednesday as investors worry that more protectionist trade policies are on the way. Gary Cohn, the top economic adviser to President Donald Trump, resigned after he opposed the administration's planned tariffs on imports of steel and aluminum. Trump also suggested the U.S. could impose penalties on China as part of intellectual property disputes.
Industrial companies like Caterpillar and Boeing are taking some of the worst losses. Retailers are sinking after weak results and a disappointing annual forecast from discount chain Dollar Tree and energy co...
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