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2017.08.1819:26:00UTC+00U.S. Stocks Ends Down After More Trump Administration Turmoil

Wall Street lost ground later in the session to finish lower on Friday after a week that put the spotlight on the White House increased doubts whether Trump's administration will be able to implement its pro-growth agenda.

Despite the losses being small for the day, the Friday session marked the first time stocks have not rallied the day after a more than 1 percent decline since Trump's election win. The latest losses further hurt the post-election rally, which was made on Trump's campaign promises of tax cuts and bolstered infrastructure spending.

In the latest development, the White House announced that Trump fired chief strategist Steve Bannon, who is a known advocate of “America First” policies. While the stocks rallied after reports of Bannon's dismissal, they lost those gains near the end of the session.

The Dow Jones Industrial Average declined 76.22 points, or 0.35 percent, to finish at 21,674.51. Meanwhile, the Nasdaq Composite fell 5.39 points, or 0.09 percent, to close at 6,216.53.

The S&P 500 lost 4.46 points, or 0.18 percent, to 2,425.55. The S&P 500 index is still up 13.4 percent despite seeing a 1.5 percent decline on Thursday.

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