U.S. dollar declines amid political uncertainty

Gary Cohn, Steven Mnuchin: You good with this?
The One Business Advisor President Trump Can't Afford to Lose Is Reportedly 'Disgusted' by Charlottesville Response
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21 August, 2017

While the losses were small, Friday marked the first time stocks have not risen the day after a more than 1 percent drop since Trump was elected president past year.

The Nasdaq Composite was down 0.17 points, or 0 percent, at 6,221.75.

Adding to investor concerns was news that a van had slammed into crowds in the Spanish city of Barcelona, killing 13 people, according to media reports, in an attack police were treating as terrorism.

In Cambrils, a town south of Barcelona, police said they had killed five attackers on Thursday night to thwart a linked "terrorist attack".

For the week, the Dow was down 0.8 percent, the S&P 500 was down 0.7 percent and the Nasdaq fell 0.6 percent.

Deere's 5.4-percent fall was the biggest drag on the industrial sector after the farm equipment maker reported a second straight quarter of lower-than-expected sales. 3M shares sunk 1.24 percent. It rose almost 1 percent against the dollar as nervousness over stock market valuations and the future of an eight-year global rally seeped into other assets.

Economic news: The market ignored a reading of consumer sentiment for August that was its highest since January at 97.6, compared with 93.4 in the prior month. Shares of J.P. Morgan Chase fell 1.56 percent.

Overnight, Wall Street's major indexes slumped between 1.2 percent and 1.9 percent.

World equity markets and US bond yields fell while gold rose on Thursday as investors favored safe-haven investments amid growing skepticism US President Donald Trump, embroiled in controversy, would achieve his economic agenda.

Boston Free Speech Rally Organizers Fear Violence, Face Threats - Security Guard
Counter protesters of the Boston rally marched from Roxbury to the Boston Common when the event began, in order to stand against white supremacy.


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A local reporter for CTV News posted images earlier today of a memorial for SJ Harris . "She was just easy love". In an interview with Black Girls Ride in 2015, Harris described what this title meant to her.


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It was during his absence that EPS reportedly strengthened his position in the party and emerged as a real threat to Dinakaran. The moment Sasikala took control of the party, it's popularity nosedived and never ever recovered.


Trump on Thursday decried the removal of pro-slavery Civil War Confederacy monuments, which have fuelled USA racial tensions, stoking worries that some of his key policy staffers and aides may quit.

Amid the political fallout, rumors swirled that National Economic Council Chair Gary Cohn was considering stepping down after the president's statements on Charlottesville.

Cohn, the former president of Goldman Sachs (GS), is viewed on Wall Street as a strong voice for business interests and a key actor in the push to cut taxes on corporations.

Even stocks appear to be abandoning President Trump.

In the latest shakeup, the White House said Trump on Friday fired chief strategist Steve Bannon, known as an economic nationalist and an advocate of "America First" policies.

The U.S. dollar bought 109.30 Japanese yen, lower than 109.69 yen of the previous session. It reached session high at 1.2893 and dropped to session low at 1.2830 levels.

The S&P 500 closed 0.18% lower at 2,425.55, after falling as much as 0.5%.

The dollar bounced back but failed to move higher against the yen or the euro EUR=and surrendered gains late in the day against the British pound GBP=.

When President Donald Trump launched into his press conference on Tuesday, it was chiefly to outline his vision for transforming the nation's aging infrastructure and energizing the USA economy. It is set to end the week down 0.1 percent.


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