News of Steve Bannon’s ouster from the White House on Friday was greeted with thunderous cheers and applause by floor traders at the New York Stock Exchange.
— Andrew Kirell (@AndrewKirell) August 18, 2017
According to CNBC:
Trading was mixed early on, but at roughly 11:18 a.m. ET word came from Washington news site Axios that the White House was prepared to fire Bannon, the chief strategist.
The S&P, which was down 5 points, promptly rallied 7 points in a matter of minutes and another 5 points over the next hour. When The New York Times confirmed that Bannon was leaving at about 12:40 p.m. ET, the market moved up another 5 points.
Floor traders, who are overwhelmingly Republican, cheered when it was reported that Bannon was out.
A source told CNN that Bannon, the former head of Breitbart News, was given the option to resign but was ultimately forced out.
White House press secretary Sarah Huckabee Sanders confirmed Bannon’s departure but did not say whether he was fired or resigned.
“White House Chief of Staff John Kelly and Steve Bannon have mutually agreed today would be Steve’s last day. We are grateful for his service and wish him the best,” said White House press secretary Sarah Huckabee Sanders in a statement.
Trump this year has fired two other aides who helped him win the White House, Reince Priebus and Michael Flynn.
Sen. Bob Casey (D-Pa.) said Bannon should never have been given his position by President Trump.
He never should have been in the White House to begin with and his departure is welcome news.
— Senator Bob Casey (@SenBobCasey) August 18, 2017
Many Democrats questioned whether Bannon’s firing would really change the White House or Trump’s policies.
While he never should have been in the WH, I’m glad Bannon is out. But he's just one staffer & we need real action to undo the damage done https://t.co/s6qHu9lu3v
— Senator Bob Menendez (@SenatorMenendez) August 18, 2017
Personnel changes are fascinating and dramatic but let's just remember how little of a difference it makes with this President.
— Brian Schatz (@brianschatz) August 18, 2017
“It can’t reverse the Muslim Ban. It can’t reverse the President’s inappropriate attacks on a Federal judge of Mexican heritage,” Rep. David Cicilline (D-R.I.) said in a statement. “And it can’t reverse the White House’s reluctance to denounce white supremacists.”
#Bannon was just a start. What really have to go are the xenophobic policies & rhetoric he inspired.
— Judy Chu (@RepJudyChu) August 18, 2017
— Rep. Mark Pocan (@repmarkpocan) August 18, 2017
— Luis V. Gutierrez (@RepGutierrez) August 18, 2017
— Rep. Nydia Velazquez (@NydiaVelazquez) August 18, 2017
One thing we know: Steve Bannon is not resigning to protest the President's apparent support for white supremacists.
— Rep. Brad Sherman (@BradSherman) August 18, 2017
Good riddance! Now we need to focus on getting the other racists out of the White House. https://t.co/CVIW6j8JLM
— Yvette D. Clarke (@RepYvetteClarke) August 18, 2017
One white supremacist out of the Trump Administration, many more to go… https://t.co/oPHLZo80iU
— Rep. Marc Veasey (@RepVeasey) August 18, 2017