Tax Plan Trouble Sends Stocks Lower

And Marco Rubio is to blame
By Newser Editors and Wire Services
Posted Dec 14, 2017 3:49 PM CST
In this Aug. 8, 2017 file photo, The Walt Disney Co. logo appears on a screen above the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks gave up an early gain and finished lower Thursday as the Republican tax plan hit another snag, the AP reports. Indexes turned lower after Sen. Marco Rubio said he would vote against the bill unless the child tax credit was expanded. Small-company stocks, which stand to benefit the most from proposed corporate tax cuts, fell more than the rest of the market. 21st Century Fox jumped 6.5% after announcing a deal to sell most of its assets to Disney.

The Standard & Poor's 500 fell 10 points, or 0.4%, to 2,652. The Dow Jones industrials lost 76 points, or 0.3%, to 24,508. The Nasdaq gave up 19 points, or 0.3%, to 6,856. The Russell 2000 index of small-company stocks fell 17 points, or 1.1%, to 1,506.

(Read more stock market stories.)

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