Wall Street retreats amid tax cut debate

From BBC - November 9, 2017

US indexes opened lower on Thursday, retreating after record highs in the previous session.

The fall came amid growing debate over the Republican push for business tax cuts, which had been one of the factors spurring a market rally this year.

The Dow Jones fell 126 points, or 0.5%, to 23,434.8 and the broader S&P 500 dropped 16.1 points, or 0.6%, to 2,578.6.

The Nasdaq fell 67.6 points, or 1%, to 6,721.

The declines were some of the steepest seen in weeks. Analysts said a pullback was not surprising, but they still saw room for stocks to rise higher, given the strong sales and earnings many companies have reported this quarter.


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