The daily business briefing: May 17, 2017

U.S. stock futures slip as concerns over Trump grow, Twitter co-founder Biz Stone announces return to company, and more

The Twitter logo on the official account
(Image credit: DAMIEN MEYER/AFP/Getty Images)

1. Stock futures slide as concerns over Trump grow

U.S. stock futures fell early Wednesday on concerns over political turmoil in Washington after The New York Times reported that President Trump had asked then-FBI director James Comey to drop the agency's investigation into former National Security Adviser Michael Flynn's ties to Russia. The report sparked critics to raise questions about whether Trump could be charged with obstruction of justice, dampening investors' confidence in Trump's ability to push through his promised stimulus program and other policies that have lifted markets since Trump's election in November. Dow Industrial Average, S&P 500, and Nasdaq-100 futures were all down 0.3 percent or more early Wednesday after paring earlier losses. "Worries about European politics and North Korea have receded. The earnings are mostly over. But now we have worries about the Trump administration," said Nobuhiko Kuramochi, chief strategist at Mizuho Securities.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.