Stocks Suffer Worst Day of the Year Amid White House Chaos - NBC 10 Philadelphia
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Stocks Suffer Worst Day of the Year Amid White House Chaos

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    NEWSLETTERS

    Stocks Suffer Worst Day of the Year Amid White House Chaos
    AP
    In this Oct. 7, 2016 file photo, a sign for Wall Street is carved into a building located near the New York Stock Exchange.

    U.S. stocks closed sharply lower on Wednesday as investors digested the latest news out of Washington, with the Dow Jones averagine about 370 points lower, Goldman Sachs contributing the most losses, CNBC reported.

    The broader S&P 500 and Nasdaq also lagged, dropping 1.8 percent and 2.6 percent respectively.

    Stocks had rallied all year in part because of hope for lower corporate taxes. But "an impeachment proceeding would blow the market away," former General Electric CEO Jack Welch told CNBC.

    "This is clearly Washington-driven," said Michael Shaoul, chairman and CEO of Marketfield Asset Management. "It's a lot like 1998-99, when the market had to deal with the [Monica] Lewinsky scandal."

    White House Doctor: Trump's Health 'Excellent'

    [NATL] Doctor: President Trump's Health 'Excellent,' Performed 'Exceedingly Well' on Cognitive Test

    President Donald Trump's overall health "is excellent" and he did "exceedingly well" on cognitive screening. That's according to his White House physician, Navy doctor Ronny Jackson.

    "In summary the president's overall health is excellent. His cardiac performance during his physical exam was very good," Jackson said.

    (Published 5 hours ago)