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|By Xinhua Writers Wang Wen nike air max 97 verde , Sun Oumeng
NEW YORK, May 17 (Xinhua) -- U.S. stocks closed sharply lowerWednesday with all three major indices recording their worst day sofar this year due to the latest turmoil in Washington thattriggered market concerns on whether the Trump administration couldcontinue to push its economic reform agenda.
"The market is responding to the probability that tax reform,infrastructure spending, healthcare reform and trade deals mightnot occur," Brendan Ahern, chief investment officer of Krane FundsAdvisors air max 97 azules , told Xinhua.
The Dow Jones industrial average ended 372.82 points lowerWednesday, a steep fall driven mainly by share declines in Dowcomponents Goldman Sachs and J.P. Morgan Chase.
Shares of Goldman Sachs dropped 5.27 percent to 213.72 U.S.dollars while J.P. Morgan Chase closed down 3.81 percent to 84.27dollars.
The broader S&P 500 dropped 43.64 points, or 1.82 percent,with financials tumbling more than three percent.
The financial sector had been the best performer in what WallStreet called "Trump Rally," since President Donald Trump assumedoffice and promised large-scale deregulation and tax reform.
The tech heavy Nasdaq declined 2.57 percent, or 158.63 points to6 air max 97 negras ,011.24. The index notched record close in two consecutivesessions on Monday and Tuesday.
"The U.S. equity market rally has been driven by the pro-growthagenda proposed by the president and supported by the Republicanmajority in Congress," said Ahern, adding that the situation haschanged.
Analysts said the latest White House controversies have weighedon market sentiment and the market performance on Wednesday was atypical flight to safety as political turmoil triggered investorconcerns.
"Recent political distractions have the potential to derail theimplementation of such policies that have helped support the risingU.S. stock market," Ahern said.
The White House on Tuesday pushed back against a new wave ofmedia allegations that Trump might have tried to obstruct justiceby asking ex-FBI Director James Comey to end a probe into formernational security adviser Michael Flynn.
"I hope you can let this go," Trump told Comey at the time,according to a New York Times report air max 97 white summit baratas , quoting two people who readthe memo Comey wrote shortly after meeting with Trump in the OvalOffice one day after Flynn resigned over a Russia-related scandalin February.
Investors have been shocked by the news and worried Trump'sability to deliver on business-friendly policies.
The CBOE Volatility Index, widely considered the best gauge offear in the market, jumped 46.38 percent to 15.59. Just a weekearlier, the index hit 9.77, lowest in more than two decades.
Analysts noted that it was the first time that markets havehinted at risk-off behavior in response to increased political riskin Washington. Talking about market outlook, some warned investorsof possible downward trend.
"Some of the technicals have turned negative air max 97 blancas , such as anapparently imminent bearish crossover on a six-month snapshot ofthe Moving Average Convergence Divergence. Relative strength alsoindicates a market closer to an 'overbought' condition than it isto neutral," Stephen Guilfoyle, president of Sarge986 LLC, wrote ina note.
"Despite strong corporate earnings, U.S. equity marketvaluations are high compared to emerging market and Europeanequities. Investors are apt to use U.S. weakness as opportunity torebalance to less expensive markets," said Ahern.
Market demand for safe-haven currencies soared on Wednesday http://www.airmax97baratas.es/ ,with Japanese yen rising over 1.8 percent against the dollar duringthe session.
The U.S dollar decreased against most major currencies. Thedollar index, which measures the greenback against six major peers,was down 0.61 percent at 97.506 in late trading.
Gold futures on the COMEX division of the New York MercantileExchange rose sharply on Wednesday. The most active gold contractfor June delivery jumped 22.3 dollars, or 1.80 percent, to settleat 1,258.7 dollars per ounce. Enditem
BEIJING nike air max 97 baratas , July 20 (Xinhua) -- The rise of gold as part of China's international reserves and the central bank recently publishing yuan-denominated external debts are conducive to a stable yuan, analysts said on Monday.
Official data showed the country's gold reserves hit 1,658 tonnes at the end of June, jumping nearly 60 percent compared to the figure last released by China's central bank at the end of April 2009.
Although countries have long abandoned the gold standard as the basis of monetary systems, gold reserve volume remains an important factor in market assessment of a country's currency value due to its price stability, according to analysts.
The central bank said the gold reserve increase was in line with the nation's needs to keep adjusting the structure of its international reserves assets in order to ensure the assets' security nike air max 97 españa , liquidity, and value increase.
"China's increasing gold reserves will strengthen yuan holders' confidence, which will help stabilize the exchange rate and facilitate the internationalization of the yuan," said Xu Mingqi, a researcher with the Shanghai Academy of Social Sciences.
"A more important role of gold reserves lies in risk prevention. It helps boost confidence in a country's currency, and reflect the country's economic and financial strength 2017 Nike Air Max Flair Hombre Rebajas Zapatillas Negras Blancas ," said Ding Zhijie, a professor at the University of International Business and Economics.
China is the world's largest gold producer and a major gold consumer. The updated figure also revealed China surpassed Russia to become the fifth largest holder of gold reserves around the world, behind the U.S., Germany, Italy and France.
Gold reserves account for a small part of China's foreign exchange reserves, which hit 3.69 trillion U.S. dollars as of the end of June. The central bank said it would flexibly adjust its gold holdings ac. Cheap Sweden Jerseys Cheap Team North America Jerseys Cheap Ducks Jerseys Wholesale Coyotes Jerseys Wholesale Canadiens Jerseys Wholesale Bruins Jerseys Wholesale Blue Jackets Jerseys Wholesale Blackhawks Jerseys Wholesale Avalanche Jerseys Wholesale Florida Panthers Jerseys