U.S. Stock Futures Under Pressure Amid Fresh Concerns Over Trump

By Barbara Kollmeyer Markets MarketWatch Pulse

U.S. stock futures fell on Wednesday as doubts grew over whether U.S. President Donald Trump can push forward with his pro-agenda. Weakness for equities, seen in Asia as well, came after The New York Times reported that Trump asked former Federal Bureau of Investigation Director James Comey to stop his investigation into former National Security Adviser Michael Flynn, citing a memo from Comey. Dow Jones Industrial Average futures fell 95 points, or 0.5%, to 20,840, while S&P 500 futures dropped 12.6 points, or 0.45%, to 2,384.50. Nasdaq 100 futures fell 24.5 points, or 0.4%, to 5,699.75. Perceived haven assets rose, with gold up $6.20, or 0.5%, to $1,242.60 an ounce, and with the Japanese yen up to �112.54, from �113.01 late Tuesday. The dollar slumped Tuesday against major rivals, with the ICE Dollar Index dropping to its lowest level since the day after the U.S. presidential election. The Dollar Index weakened further to 97.99 on Wednesday. "What investors are worried about is that the impeachment could take place over in the U.S. as the odds are showing more than 50 percent for such an event after the New York Times released its article," said Naeem Aslam, chief market analyst at Think Markets. "If such scenario does become a reality, we could literally say good bye to Trump's reflation trade."

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