Wall Street Falls With Energy Shares; Tax Angst Weighs
RisingWorld
2017-11-16
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Wall Street Falls With Energy Shares; Tax Angst Weighs
NEW YORK — U. S. stocks fell on Wednesday as energy sector shares dropped for a fourth straight session, tracking crude prices, while
a late run-up was thwarted by concerns over the passage of a tax revamp after Republican senators were critical of the proposal.
S&P Dow Jones Indices and MSCI said after the market close they would combine telecommunication, media
and entertainment company shares into a single sector in an overhaul of their stock market indexes, including the benchmark S&P 500.
Senator Ron Johnson said he opposes his party’s Senate tax revamp proposal, the Wall Street Journal reported, while Senator Susan Collins, also a Republican, warned
that some middle-income taxpayers could see tax cuts wiped out by higher health insurance premiums if the repeal of the Affordable Care Act’s mandate goes through with the tax bill.
NEW YORK — U. S. stocks fell on Wednesday as energy sector shares dropped for a fourth straight session, tracking crude prices, while
a late run-up was thwarted by concerns over the passage of a tax revamp after Republican senators were critical of the proposal.
S&P Dow Jones Indices and MSCI said after the market close they would combine telecommunication, media
and entertainment company shares into a single sector in an overhaul of their stock market indexes, including the benchmark S&P 500.
Senator Ron Johnson said he opposes his party’s Senate tax revamp proposal, the Wall Street Journal reported, while Senator Susan Collins, also a Republican, warned
that some middle-income taxpayers could see tax cuts wiped out by higher health insurance premiums if the repeal of the Affordable Care Act’s mandate goes through with the tax bill.
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