Speed Reads

how low can you go

Dow down more than 300 points in 'Washington-driven' plunge

The Dow Jones Industrial Average is down more than 310 points, reflecting market turbulence stemming from the Trump administration's latest scandals:

"If [President Trump is] preoccupied defending himself and if it goes a lot further, then any hope of his legislative agenda coming to the fore is going to be reduced," explained the head of Investec Asset Management Ltd., John Stopford, to Bloomberg TV.

The CEO of Marketfield Asset Management, Michael Shaoul, described the drop to CNBC as "a lot like 1998-99, when the market had to deal with the [Monica] Lewinsky scandal."

"This is clearly Washington-driven," Shaoul said.