Posted on 11/09/2017 12:56:15 PM PST by SeekAndFind
U.S. equities fell sharply on Thursday, pulling back from record highs, on worries that tax reform could be delayed until 2019.
A proposed plan by Senate Republicans would push tax reform back to 2019, CNBC has learned through a source. The move contrasts with a bill working its way through the House. The Washington Post first reported the news.
"That's what gave us this new leg down," said Art Cashin, director of floor operations at UBS, on CNBC's "Squawk Alley."
Expectations for tax reform have increased recently, helping lift the stock market to all-time highs. The major indexes had recovered some losses from earlier in the session prior to the Senate news breaking.
At 2:11 p.m. in New York, the Dow Jones industrial average traded 129 points lower, with McDonald's as the biggest decliner; it fell 1.8 percent. The Dow briefly fell more than 250 points.
The S&P 500 pulled back 0.55 percent, with industrials as the leading decliner; the sector fell 1.3 percent.
The Nasdaq composite lagged, falling 0.8 percent.
(Excerpt) Read more at cnbc.com ...
Anything spooks the crowd, and there will be a massive jam-up at the exits.
I believe the Executive Branch has the authority to appoint a special prosecutor but perhaps a FReeper legal eagle can weigh-in on this.
Gold needs to spike to around $1500 per ounce.
They are despicable.
If my innocent president is removed from office this is a lawless nation undeserving of loyalty by law abiding citizens.
Thank you John McCain.
The senators are evil and don’t care. Let that sink in a bit. If they win America will be nothing. Think about the nation they want.
Out and out subversion. They can drop dead.
The swamp rats will never relinquish their feces laden den. DJT and his supporters are all that is left of America. Fight on...
“The GOPe is gonna give us President Kamala Harris in 2020 at the rate they’re going.”
And give themselves high fives in the process.
Its civil war
Dumb skcuF.....
You tell us you won’t do your effen job and the stock market sends you message back....
Time to surrender.
Maybe the Senator GOP will pay attention to the stock market. They certainly don’t care about voters.
That's a little too vague. Give us the names of these rats so we can eliminate them.
We need to cut a trillion a year out of the federal budget, easily. That probably includes hundreds of billions from the defense budget, at the same time that we need to eliminate fraud and waste there and everywhere else in order to get what we do need done effectively and efficiently.
“Paying” for tax cuts by increasing taxes elsewhere is a big nothing-burger scam.
Shut down these Fed agencies, Energy, Education, CPB, Commerce. There is a big chunk of money.
Sabatoge. It’s obvious. Senate touches something and everything goes “pouf”. The stock market was a ringing endorsement of your plan Senators. Maybe you should think about that you fools.
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