Gary Cohn's Resignation Has Investors Very Uneasy

The resignation of President Trump's National Economic Council head, Gary Cohn, on Tuesday sent Wall Street traders rushing to hit the “sell” button as fears of a trade war escalated. The market was closed when the news of Cohn's imminent departure broke, but traders still sent Dow futures — a predictor of where the market will open Wednesday — tumbling. Dow futures dropped more than 350 points and S&P 500 futures slid over 1 percent because of Cohn. Any move of more than 1 percent is significant, although nowhere near the worst the markets have seen in recent weeks. In February, the Dow dropped more than 1,100 points in a single day as investors worried the economy might start to overheat from the boost from the tax cuts. Now there's a very different concern: a trade war.