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By Xinhua Writers Wang Wen nike air vapormax plus scontate , Sun Oumeng
NEW YORK, May 17 (Xinhua) -- U.S. stocks closed sharply lowerWednesday with all three major indices recording their worst day sofar this year due to the latest turmoil in Washington thattriggered market concerns on whether the Trump administration couldcontinue to push its economic reform agenda.
"The market is responding to the probability that tax reform,infrastructure spending, healthcare reform and trade deals mightnot occur," Brendan Ahern nike air max 98 supreme saldi , chief investment officer of Krane FundsAdvisors, told Xinhua.
The Dow Jones industrial average ended 372.82 points lowerWednesday, a steep fall driven mainly by share declines in Dowcomponents Goldman Sachs and J.P. Morgan Chase.
Shares of Goldman Sachs dropped 5.27 percent to 213.72 U.S.dollars while J.P. Morgan Chase closed down 3.81 percent to 84.27dollars.
The broader S&P 500 dropped 43.64 points, or 1.82 percent,with financials tumbling more than three percent.
The financial sector had been the best performer in what WallStreet called "Trump Rally nike air max tn ultra saldi ," since President Donald Trump assumedoffice and promised large-scale deregulation and tax reform.
The tech heavy Nasdaq declined 2.57 percent, or 158.63 points to6,011.24. The index notched record close in two consecutivesessions on Monday and Tuesday.
"The U.S. equity market rally has been driven by the pro-growthagenda proposed by the president and supported by the Republicanmajority in Congress," said Ahern, adding that the situation haschanged.
Analysts said the latest White House controversies have weighedon market sentiment and the market performance on Wednesday was atypical flight to safety as political turmoil triggered investorconcerns.
"Recent political distractions have the potential to derail theimplementation of such policies that have helped support the risingU.S. stock market nike air max 97 uomo saldi ," Ahern said.
The White House on Tuesday pushed back against a new wave ofmedia allegations that Trump might have tried to obstruct justiceby asking ex-FBI Director James Comey to end a probe into formernational security adviser Michael Flynn.
"I hope you can let this go," Trump told Comey at the time,according to a New York Times report, quoting two people who readthe memo Comey wrote shortly after meeting with Trump in the OvalOffice one day after Flynn resigned over a Russia-related scandalin February.
Investors have been shocked by the news and worried Trump'sability to deliver on business-friendly policies.
The CBOE Volatility Index, widely considered the best gauge offear in the market nike air max 97 saldi , jumped 46.38 percent to 15.59. Just a weekearlier, the index hit 9.77, lowest in more than two decades.
Analysts noted that it was the first time that markets havehinted at risk-off behavior in response to increased political riskin Washington. Talking about market outlook, some warned investorsof possible downward trend.
"Some of the technicals have turned negative, such as anapparently imminent bearish crossover on a six-month snapshot ofthe Moving Average Convergence Divergence. Relative strength alsoindicates a market closer to an 'overbought' condition than it isto neutral nike air max 270 saldi ," Stephen Guilfoyle, president of Sarge986 LLC, wrote ina note.
"Despite strong corporate earnings, U.S. equity marketvaluations are high compared to emerging market and Europeanequities. Investors are apt to use U.S. weakness as opportunity torebalance to less expensive markets," said Ahern.
Market demand for safe-haven currencies soared on Wednesday nike just do it air force saldi ,with Japanese yen rising over 1.8 percent against the dollar duringthe session.
The U.S dollar decreased against most major currencies. Thedollar index, which measures the greenback against six major peers,was down 0.61 percent at 97.506 in late trading.
Gold futures on the COMEX division of the New York MercantileExchange rose sharply on Wednesday. The most active gold contractfor June delivery jumped 22.3 dollars, or 1.80 percent, to settleat 1 nike just do it scarpe bianche ,258.7 dollars per ounce. Enditem
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