Mr. Cohn’s resignation comes as President Trump proposes increased tariffs on steel and aluminum imports, which experts warn could begin an international trade war. Mr. Cohn was widely regarded as a level-headed presence in the White House, and his departure worried many in the finance industry.
“Gary Cohn is well-regarded in the investment community and we are likely to see some short-term negative sentiment [from his departure],” Robert Gillam, CEO of McKinley Capital, told The Wall Street Journal.
The Dow Jones Industrial Average fell 1.3 percent Wednesday while the S&P 500 dropped 0.9 percent and the NASDAQ composite slipped 0.6 percent.
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