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 ...
bump
tell me how ya really feel ole buddy...
Meanwhile, Apple has risen $20 or so since its recent doldrums (iow, prior to the new iPhone rollouts), fell a fraction on the 9th, and goes ex- today. I’d be surprised if the overdue popping of the TSLA bubble has resulted in a shift to the stock of a company that makes money and turns profits, and that the shift may even trigger a short squeeze (in case it hasn’t already).
Watched a video where the author claimed the only thing the Reublicans in the Senate have done is put Trump under investigation.
Mitch McConnell is toast. He’s done. Goodby to the turtle.
But i bet the increase in people who pay zero getting “refunds” is effective immediately. I would accept that if and only if state itaxes are not deductible immediately.
HEY!!!!!!!!!!!!
How do, brother!!!!!!! Long time....
Good to hear from you...
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