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US Economy : Wall Street's patience with Trump seems to have its limits

The Chicago Tribune recently reported that even though Wall Street has largely ignored the unpredictability and chaos that has plagued Donald Trump's administration, confident that the businessman-turned-president's policies would juice the economy and that a team of mainstream advisers would keep more controversial proposals at bay.

Now the financial markets are showing that their patience with Trump has its limits.

A triple whammy of tariffs, Twitter threats against one of the nation's largest companies and high-level staff shake-ups have rattled Wall Street in recent weeks. The S&P 500 has fallen 1 percent amid turbulent daily price swings since March 1, the day Trump said he intended to levy tariffs on steel and aluminum imports.

Wednesday was another roller coaster day for Wall Street amid back-and-forth tariff threats by the U.S. and China. The Dow Jones industrial average plunged 501 points after the opening bell but made it all back, and more.

The repercussions of a jagged drop in the stock market are both economic and political. If the market fluctuations continue, they could dampen business and consumer confidence and ultimately slow U.S. economic growth.

For Trump and the Republican Party, that could be a devastating development in a midterm election year, when the party is largely pinning its hopes of keeping control of Congress on economic success and Americans seeing a benefit from the tax overhaul the president signed in December.

Stocks fell on Wednesday after President Donald Trump taunted Russia on Twitter to "get ready" for a possible missile strike on Syria.

The Dow Jones industrial average closed 218.55 points lower at 24,189.45 as Boeing fell 2.2 percent.

The S&P 500 declined 0.6 percent to 2,642.19, with telecommunications and financials dropping more than 1 percent each. The Nasdaq composite dropped 0.4 percent to close at 7,069.03.

When Trump said in a tweet: "Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and 'smart!' You shouldn't be partners with a Gas Killing Animal who kills his people and enjoys it!" - his undiplomatic wording obviously did not have a calming effect on the global economic markets.


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