Stocks Slide
Stocks in the United States were down sharply on Wednesday. The Dow Jones industrial average and the Standard & Poor’s 500-stock index were each down 1.8 percent, while the Nasdaq was down 2.6 percent.
Among the reasons for the sudden skittishness:
• Continued turmoil in Washington. New revelations about President Trump’s sharing of sensitive information with Russian diplomats, and his reported suggestion that the former F.B.I director James B. Comey drop the investigation into a former national security adviser are raising fears that Mr. Trump’s agenda of lower taxes and lighter regulation could be harder to enact.
• Underlying weakness in the economy. While strong technology stocks have been inflating major indexes in recent months, some major companies for the American economy — especially retailers and carmakers — are facing real struggles.
The dollar was weaker against major currencies on Wednesday.
And Wall Street’s fear gauge is up. After hitting historic lows, the Chicago Board Options Exchange volatility index, or VIX, spiked 20 percent in early trading on Wednesday, although the index remains well below its historical average.
By THE NEW YORK TIMES
https://www.nytimes.com/2017/05/17/business/dealbook/movers-puerto-rico-google.html
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