Wall Street ends down after more White House turmoil

Wall Street ends down after more White House turmoil

"I believe the President should have been - and still needs to be - unambiguous on that point".

Mr. Trump has alienated Republicans, corporate leaders and USA allies, while rattling markets with his comments since Saturday's violence in Charlottesville, Va., which came in the aftermath of a white nationalist protest against the removal of a Confederate statue.

A Wall Street analyst, Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama, said that because the infrastructure panel had yet to get off the ground, its demise was less important than the scrapping of the other two groups.

The announcement comes on the heels of Trump's dissolution of two major business councils, whose members began to resign en masse over the president's response to the deadly violence in Charlottesville, Va.

As a candidate, Trump promised wide-ranging tax reform and fiscal stimulus measures that traders bet would kick start the economy and inflation. Trump, for example, has in the past mocked Republicans for raising the debt ceiling, but many Wall Street executives say failing to do so could lead to a stock market crash and a recession.

"We can have no tolerance for an ideology of racial hatred".

"Gary brings experience in how financial markets work and fail, through good times and stressful times", said Erik Gordon, a law professor at the University of MI in Ann Arbor. Several executives had already resigned from the council.

On Monday, Trump explicitly condemned the weekend rally by white supremacists in Virginia, denounced racism as "evil" and singling out the Ku Klux Klan and neo-Nazis as "repugnant".

More news: Grace Mugabe's R45m SA mansion in the spotlight

"This is bad. The president of the United States needs to condemn these kind of hate groups", Kasich said on NBC's "Today" show.

The week's losses further dented the post-election rally, which was built on Trump's promises of tax cuts and higher infrastructure spending.

Counter-protesters massed in opposition the next day. Heyer was being remembered on Wednesday at a memorial service in Charlottesville.

He also has lashed out at his critics in the Republican Party, aiming angry tweets at Sen. On the data front, US consumer sentiment rebounded in early August from an eight-month low in July, reflecting confidence in the economic outlook and personal finances.

In London, British Prime Minister Theresa May offered a rare rebuke of Trump from so close a US ally.

Bloomberg reported that while she was also displeased at the president's comments, she is has no plans to quit her position. "This is the first time since the arrival of Trump that there was a rupture between him and the business community", he explained.

USA stocks lost ground late to end lower on Friday following a White House-focused week that raised more questions about the Trump administration's ability to implement its pro-growth agenda.

U.S. Army Chief of Staff General Mark Milley wrote on Twitter, "The Army doesn't tolerate racism, extremism, or hatred in our ranks".

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