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Market Extra: How stock-market investors are bracing for a potential trade war after Cohn exit

Gary Cohn’s departure from the White House is stoking fears of a potential trade war, leaving investors to ponder how to position themselves should the U.S. and major trading partners start trading fusillades of tariffs and other measures.

Stocks remain sensitive to headlines, with indexes opening sharply lower Wednesday after the resignation of Cohn, Trump’s top economic adviser, but then paring losses after the White House reiterated the potential for Canada, Mexico and other countries to receive carveouts from planned steel and aluminum tariffs.

The S&P 500 SPX, -0.05% finished with a loss of less than 0.1%, while the Dow DJIA, -0.33% ended with a decline of 82.76 points, or 0.3%, after earlier slumping around 350 points.

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