Economic nationalists still linger in White House

How Bannon's Departure Affects the White House

Congressional aides and some White House officials acknowledged that Cohn's job has become much more hard, because Trump's comments further entrenched Democrats and alienated some Republicans who are nervous about what Trump might say next.

Friday also was the eighth straight day in which the New York Stock Exchange and NASDAQ had more stocks making new 52-week lows than highs, matching a similar streak leading up to Trump's election. The dollar index fell 0.13 percent, with the euro up 0.25 percent to $1.1763.

The greenback came under selling in NY trading overnight amid a rumor that Gary Cohn may resign as director of the U.S. National Economic Council after a spate of corporate executives quit Trump's advisory panels this week over his response to the weekend violence in Virginia. Sterling edged 0.1 percent lower to $1.12874 against the dollar and is set for its biggest weekly drop since June 11. He was not a natural fit to be Trump's top economic adviser because of his ties to Wall Street and New York Democrats, but Trump saw him as incredibly successful and a financial market "genius" who brought instant credibility to his economic team.

About 6.8 billion shares changed hands on US exchanges.

But the market reaction reveals investors concern: Mr. Trump's economic agenda - a tall order even before the events at Charlottesville - are now hanging by a thread, heightening Cohn's importance to the administration.

The dollar index, which tracks the greenback against a basket of six major peers, was flat at 93.597, surrendering moderate early gains.


The stock market swung wildly on activity out of Washington.

Until then, "sentiment may remain the driver for the fluctuations in the markets and could make for good entry opportunity for regional markets", she added. The dollar dropped almost 1% against the yen, falling to 108.58 yen, its lowest since late April.

European markets closed lower: London's FTSE retreated 0.6 per cent, as did Paris, while Frankfurt slid 0.5 per cent.

The Dow Jones Industrial Average on Friday fell 76.22 points, or 0.35 percent, to close at 21,674.51. Shares of Under Armour fell 2.04 percent.

Gold prices were little changed after jumping to their highest in more than nine months on Friday as the dollar retreated on political uncertainty in the United States and a suspected Islamist militant attack in Spain boosted bullion's safe-haven appeal.

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