>> Investors keeping a close eye on US stocks on Friday after the biggest drop in three months for both the Dow and S&P 500 the day before. Those two major indices hitting record highs this month, a fact the President has cheered repeatedly.>> All time high, think of it, nobody ever talks about it.
>> But Thursday's decline has some investors wondering how long the ride higher will last. Here's Reuters' Markets Editor Dan Burns.>> The question on so many people's minds is are we seeing the first stages of the correction that we've dodged for years now, frankly. It is an old bull market, and some of these internal measures are showing signs of cracking and suggesting that perhaps this might be the moment where we begin to embark on a more sustained, downward path.
>> Burns says yesterday's and last Thursday's big falls mark an important break from a period of low volatility.>> We haven't seen two 1% plus drop days this close to each other since Trump was elected. We're seeing far more stocks making new lows and highs for seven days in a row now.
That's also something we haven't seen since the election. So there's definitely something within the market that has shifted within the last week.>> I think there's blame on both sides.>> Trump's comments about the violence in Charlottesville in the last week escalating worries among some market strategists about the Trump administration's ability to push through its economic agenda.
Leading to rumors that Trump's top economic advisor, Gary Cohn, who was viewed by investors as a moderating force in the White House, might quit.>> The White House came out with a formal statement saying, no, Gary Cohn's staying. But the question on most people's minds is, he's staying, but for how long?
And that would be a big concern for the market, so it's a very big focus, whether Gary Cohn right now.