Gary Cohn’s sudden departure rightfully spooked markets — he was after all a staunch pro trade voice that balanced out protectionist voices such as Peter Navarro. What’s not certain however is whether Mexico, Canada and European allies are truly vulnerable or whether the former business man known for his dealmaking is simply playing hardball in the latest round of contentious NAFTA negotiations.
Let’s hope it’s the latter, in which case according to many analysts, including Mad Money’s Jim Cramer, the markets will rip higher once again. Does this mean the current dip is a buying opportunity? Not necessarily, the volatility is here to stay and those with queasy stomachs and no appetite for wild swings should take any opportunity to sell.