Japan Shares Drop as Concerns Rise Over Trump Cabinet Turmoil

Japanese equities fell, following a decline in U.S. peers, as investors mulled the impact of President Donald Trump’s sudden firing of U.S. Secretary of State Rex Tillerson on the administration’s ability to conduct policy amid rising trade tensions.

Technology stocks and retailers were the biggest drags on the Topix index as all but four of 33 industry groups declined. The S&P 500 Index fell 0.6 percent on Tuesday as the ouster took many by surprise less than a week after Trump’s economic adviser Gary Cohn resigned from the White House. Tillerson will be replaced by CIA Director Mike Pompeo. His departure raises concerns of a new guard in the White House that may take a harder line on trade, advancing Trump’s agenda of imposing tariffs on U.S trading partners.

Topix index -0.6% to 1,741.01 at morning close in Tokyo. Nikkei 225 index -1% to 21,740.80.

Yen +0.1% to 106.49 per dollar; -0.2% on Tuesday.

Source : Bloomberg

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Dow set for 300-point drop after Cohn’s exit

U.S. stock futures were poised to open sharply lower early Wednesday, in a move sparked late Tuesday by the resignation of Gary Cohn, the head of President Donald Trump’s National Economic Council.

Futures for the major gauges were much lower, but were paring earlier losses logged in the wake of the Cohn news.

Dow Jones Industrial Average futures were down 323 points, or 1.3%, to 24,530, after being down by more than 400 points. S&P 500 futures dropped 27.40 points, or 1%, to 2,696.50, while Nasdaq-100 tumbled 66.75 points, or 1%, to 6,841.

Losses of that magnitude would erase Dow’s year-to-date gain. On Tuesday, the Dow, S&P 500 and Nasdaq Composite closed moderately higher.

Source: Marketwatch

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European Stocks Drop as Cohn Resigns; Miners, Automakers Fall

European equities decline, following Asian peers lower, as investors assess the implications of the resignation of White House economic adviser and free-trade advocate Gary Cohn.

The Stoxx Europe 600 falls 0.2% after two days of gains. Shares of miners and automakers, two sectors that will be hurt by tarrifs proposed by U.S. President Donald Trump, drop the most among industry groups. Rolls-Royce rises as much as 9.7% after reporting pretax profit for the full year that beat the highest analyst estimate.

Source: Bloomberg

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Sumber : bpfnews.com

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