The U.S. stock market early Wednesday was on pace to log its worst daily decline in about eight weeks as concerns about President Donald Trump’s FBI controversy weighed on investor sentiment. The Dow Jones Industrial Average dropped 0.9% at 20,794, the S&P 500 index was off 0.8% at 2,382, while the technology-laden Nasdaq Composite Index was down 0.9% at 6,115. The early decline puts the major indexes on pace to post their biggest one-session drops since March 21, according to FactSet data. The downdraft comes on a so-called risk-off day for Wall Street, with haven assets like the 10-year Treasury note [BX: TMUBMUSD10Y] drawing bidders and pushing yields, which move inversely to price, firmly lower. The 10-year Treasury note was off 5.8 basis points at 2.27%, and gold futures , another haven security, were up 1.5% at $1,254.40 an ounce. Weakness came after The New York Times late Tuesday reported that Trump in February asked then-Federal Bureau of Investigation Director James Comey to stop his investigation into former National Security Adviser Michael Flynn. The report cited a memo from Comey. That has raised questions about the president’s ability to implement pro-market policies that have driven stocks to recent records.
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