Stocks slide, gold spikes on report that Flynn is prepared to testify against Trump

Markets Insider

US stocks fell in trading on Friday following an ABC News report that Michael Flynn would say President Donald Trump told him to contact Russians.

The former national security adviser was earlier charged with one count of making false statements to federal investigators.

Stocks had opened lower amid concerns over the Republican tax bill and its impact on the federal deficit.

The Dow was down 113 points, or 0.47% to 24,159 at 11:27 a.m. ET. The S&P 500 was down 1% to 2,645.

Other markets also reacted to the news. Treasurys rallied, sending the 10-year yield down by nine basis points to 2.322%. It was the biggest drop for the benchmark note's yield in over six months, according to Bloomberg.