Stocks Tumble, Rebound After Flynn Guilty Plea

Technology and industrial down; energy up
By Newser Editors and Wire Services
Posted Dec 1, 2017 3:29 PM CST
Stocks Tumble, Rebound After Flynn Guilty Plea
This July 15, 2013 file photo, shows the New York Stock Exchange.   (AP Photo/Mark Lennihan, File)

Stocks are closing modestly lower, having recouped much of a steep loss from earlier in the day after a former adviser to the White House pleaded guilty to lying to the FBI, the AP reports. News that former national security adviser Michael Flynn would cooperate with the probe into Russian meddling in the US presidential election initially sent the market stumbling, but investors were encouraged after Senate Republicans signaled they have enough votes to push forward on a tax overhaul bill. Technology and industrial stocks accounted for much of the decline. Energy companies led the gainers.

The Standard & Poor's 500 index 5 points, or 0.2%, to 2,641. The Dow Jones industrials lost 40 points, or 0.2%, to 24,231. The Nasdaq composite gave back 26 points, or 0.4%, to 6,847.

(More stock market stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.