Political jitters in Washington finally caught up with US equity markets as rumours swirl that President Trump’s closest economic advisers at the White House could abandon him following his controversial remarks on the deadly weekend protest.
The reigning fear on Wall Street is that Trump's lack of support within his own party and the wider business community could result in a legislative gridlock and snuff the life out of the President’s pro-growth agenda.
Adding to these fears was his move to disband the business council after the exit of several higher profile CEOs. Investors also kept an eye on Europe, after a terror attack in Barcelona killed 13 people.
The Dow Jones Industrial Average September fell over 1.00% on Thursday, with the index last trading around the 21740-mark. A break below key support at 21680 could see the selloff in the index intensify.
Dow Futures Post Biggest Drop in Three Months
Daily Analysis - 18/08/2017