A Gary Cohn resignation would ‘crash the markets,’ management guru Jeffrey Sonnenfeld says

CNBC/Berkeley Lovelace Jr./08-17-17

The markets would crash if top White House economic adviser Gary Cohn resigns, Yale School of Management’s Jeffrey Sonnenfeld told CNBC on Thursday.

“I don’t want to be an alarmist, but there is a lot of faith that he is going to help carry through the tax reform that people are looking for,” Sonnenfeld said on “Squawk Box.”

“I think if he steps away, it would crash the markets,” he said.

PG View: Risk appetite has been diminished on yet another layer of political uncertainty, which is weighing on stocks and providing a tailwind for gold.

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