Wall Street dips following resignation of White House economic advisor

Posted on: March 7th, 2018 by ABC News No Comments

JaysonPhotography/iStock/Thinkstock(NEW YORK) — White House economic advisor Gary Cohn’s resignation may have spooked investors as Wall Street finished trading Wednesday slightly in the red.

The Dow closed at 24,802.32 — posting a loss of 81.80 on the day.

The Nasdaq climbed one-third of a percent to 7,396.65, while the S&P 500 dipped slightly, closing down 1.21 at 2,726.91.

The price of crude oil fell by nearly two percent Wednesday. At market’s close, a barrel was selling for $61.37 — $1.23 lower than it opened.

Dollar Tree was among the stocks that lost the biggest Wednesday, closing at $89.25, nearly 15 percent lower than its open. That loss came as current quarter guidance showed lower revenue than expected.

Not all stocks fell on Wednesday, though. H&R Block reported better than anticipated earnings following what it called a “strong tax season.” Retailer Abercrombie and Fitch also saw shares climb.

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