The Dow Jones Industrial Average early Wednesday briefly gave up its year-to-date gains, before fighting back to positive for the year, as Wall Street wrestled with news that National Economic Adviser Gary Cohn has resigned from the White House. Market participants fear that Cohn’s departure suggests that President Donald Trump will push forward on tariffs and on steel and aluminum imports that the key adviser has opposed. Moreover, Cohn was viewed as a chief engineer of the president’s pro-business agenda. The Dow was down 150 points, or 0.6%, at 24,736, and was down by as many as 312 points, pushing into down 0.7% in the first three months of 2018. It was most recently up about 0.1% for 2018. Meanwhile, the S&P 500 index was off 0.6% at 2,712, hanging on to a 1.5% year-to-date return, while the Nasdaq Composite Index was off 0.4% at 7,341, maintaining a 2018 rise of 6.4%.
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