Stocks Extend Losses as Dow Ends 8-Week Winning Steak Over Possible Tax Cut Delay

Stocks Extend Losses as Dow Ends 8-Week Winning Steak Over Possible Tax Cut Delay

Markets in the US extended their losses, with the Dow Jones Industrial Average off its 8-week winning streak while both the Nasdaq Composite Index and S&P 500 are set to close the week in the negative. Much of the weakness in equities were sparked by mounting concerns over the possible delay in corporate tax cuts. The tax reform bill from the Senate was markedly different from the one considered by the Congress, with a cut in corporate taxes to be implemented by 2019. The House bill would start the 20% rate next year.

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