Stocks Face More Selling Today as Worries Grow About Washington




TheStreet TV show

Summary: Losses for stock futures picked up after a Reuters report on members of Trump's campaign communicating with Russian contacts. U.S. stocks are coming off their worst day this year on worry about distractions in Washington delaying reforms that could stimulate the economy, like tax reform. Wall Street is evaluating the choice of former FBI Director Robert Mueller as special counsel for the Trump-Russia probe. Mueller will have sweeping powers and the authority to prosecute any crimes he would uncover. Mueller is know for being bi-partisan. The U.S. Justice Department is preparing to possibly file suit against Fiat Chrysler . Bloomberg reports the filing will happen if talks to resolve differences over the automaker's alleged violations of the U.S. clean air rules with its diesel vehicles. The suit being prepared alleges the company used illegal defeat devices, like software, to disable pollution control systems.