Northern Wyoming Daily News - Serving the Big Horn Basin for over 100 years

Industrial and tech stocks fall on potential tax cut delay


November 10, 2017

NEW YORK (AP) — U.S. stocks skidded Thursday after Senate Republicans surprised Wall Street by proposing a delay in cutting corporate taxes. Industrial and technology companies fell the most, but stocks regained some of their losses before the closing bell.

Senate Republicans introduced a tax bill a week after their House counterparts did the same. While both bills would ultimately reduce the corporate tax rate to 20 percent from 35 percent, the Senate legislation doesn’t do that until 2019. However the worst results Thursday came not from the smaller, U.S.-focused companies that might...

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