Market Extra: Slumping stocks could ‘test the February lows’ — analysts react to Cohn’s resignation

As U.S. stocks face sharp losses Wednesday, analysts are assessing what the resignation of Gary Cohn from the White House could mean for markets.

Cohn, who had been the head of President Donald Trump’s National Economic Council, left after he failed to prevent Trump from backing a plan to impose tariffs on imports of aluminum and steel.

Read more:How a tariff-rattled stock market is reacting to Cohn’s resignation

And see:Trump tariffs may really be a backdoor way to get out of the WTO

Concerns about a possible global trade war have intensified following Cohn’s departure. Dow Jones Industrial Average futures YMH8, -0.25% were down by more than 400 points following the news, but have pared some of their drop.

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