U.S. stocks close lower as tax reform uncertainties weigh; GE extends losses
Wednesday, 15 November 2017 04:25 WIB |
MARKET UPDATE |DOW JONES Standard & Poor's 500Saham ASsaham A.S
U.S. stocks retreated Tuesday, with all three main indexes closing lower, as uncertainties over whether the Trump administration will be able to deliver sweeping tax reforms weighed on investors' confidence.
Analysts had largely credited anticipation over imminent corporate tax cuts for fueling much of the market's record-setting rally this year. Shares of General Electric also extended losses, slumping 5.9%, in the wake of disappointment over the company's restructuring plan that included slashing dividends.
The S&P 500 fell 5 points, or 0.2%, to close at 2,578 while the Dow Jones Industrial Average shed 30 points, or 0.1%, to end at 23,409. The Nasdaq Composite Index slid 19 points, or 0.3%, to close at 6,737.