Wall Street erases gain after U.S. indicts Russians

Source: Reuters



FEBRUARY 16, 2018 / 7:53 AM / UPDATED 5 MINUTES AGO

Noel Randewich

(Reuters) - U.S. stocks gave up gains on Friday after a U.S. grand jury indicted several Russians for interfering in with the 2016 presidential election to help then-candidate Donald Trump.

U.S. Special Counsel Robert Mueller’s office said a U.S. federal grand jury indicted 13 Russian nationals and three Russian entities accused of interfering with U.S. elections and political processes.

The S&P 500 had been up over half a percent, but that gain evaporated after the announcement of the indictments.

“The market was looking for an excuse to roll over and Russia headlines would do it. You’ve had such a rally for the week, and people have been looking for an excuse to take profits heading into the weekend,” said Dennis Dick, a proprietary trader at Bright Trading LLC in Las Vegas.



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