U.S. stocks tumble on Trump woes, Spain attack

WASHINGTON DC- JUNE 01 National Economic Council Director Gary Cohn wipes away sweat while listening to President Donald Trump announce his decision for the United States to pull out of the Paris climate agreement in the Rose Garden at the White House

WASHINGTON DC- JUNE 01 National Economic Council Director Gary Cohn wipes away sweat while listening to President Donald Trump announce his decision for the United States to pull out of the Paris climate agreement in the Rose Garden at the White House

He is seen as a key force behind Mr Trump's tax reform programme. The S&P 500 Index tumbled to the lowest level this week, while Treasuries erased earlier losses.

Now comes word that the one business advisor that Trump can ill afford to lose-Gary Cohn, the former chief operating officer at Goldman Sachs-was "disgusted" and "upset" by Trump's comments that "both sides" (and not just neo-Nazis and Ku Klux Klan supporters) were to blame for the violence, which led to three deaths and dozens of injuries.

Cohn, a former Goldman Sachs president, has been leading the effort to overhaul the US tax code, according to Bloomberg. Nothing's changed." The official later clarified to say, "Nothing has changed.

But previous White House shake-ups were preceded by similar reports, most recently with the departure of former White House chief strategist Steven Bannon. At least 13 people were killed and 50 injured.

The dollar index, which measures the greenback against six major peers, was down 0.17 percent at 93.462 in late trading. USA stocks and Treasury yields extended declines in the afternoon in NY, after a van plowed into pedestrians on one of Barcelona's busiest streets, causing multiple deaths and injuries in an attack authorities are treating as terrorism.

During a visit Thursday to Beijing, Dunford said: "I have seen the chiefs' tweets and I can absolutely and unambiguously tell you that there is no place for racism and bigotry in the US military or in the United States as a whole".

Trump's remarks and the resulting political damage represent a "macro threat" to financial-sector stocks, risking big issues like the tax overhaul and making it more hard to attract business executives to Trump's government, said Jaret Seiberg, a senior policy analyst at Cowen & Co. LLC.

The "Trump Trade", the market boom following Donald Trump's election, has been powered by the promise of his economic policies.

Cohn quickly consolidated power inside a White House that was often at war with itself and built a team of experts to work on health care, infrastructure, tax policy and other issues. "The fears are that if he goes, you take a further step back from tax cuts and deregulation".

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