Wall Street dips as tax uncertainty offsets strong earnings

REUTERS
NEW YORK
Published 26.04.2017 23:49
Wall Street dips as tax uncertainty offsets strong earnings

U.S. stocks ticked lower on Wednesday following two sessions of strong gains as upbeat corporate earnings were offset by uncertainty over the feasibility of a proposed business tax cut.

The proposal from the Trump administration would slash tax rates for businesses and on overseas corporate profits returned to the country. It offered no specifics on how it would be paid for without increasing the deficit.

The Dow Jones Industrial Average .DJI fell 21.03 points, or 0.1 percent, to 20,975.09, the S&P 500 .SPX lost 1.16 points, or 0.05 percent, to 2,387.45 and the Nasdaq Composite .IXIC dropped 0.27 points, or 0 percent, to 6,025.23.

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