Wall Street Drifts Lower; Investors Worry About Tax Cut Delay - Dollar Advisory & Financial Services

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Tuesday 21 March 2017

Wall Street Drifts Lower; Investors Worry About Tax Cut Delay

Wall Street drifted lower on Monday as investors worried that President Donald Trump's plan to cut taxes and boost the economy could take longer than previously expected.

The US stock market has been on a record-setting spree since the election of Trump as president, but the rally has faltered in recent weeks as investors fret about a lack of clarity on his proposals to reform taxes and cut regulation.

The S&P 500 and the Dow ended lower after FBI Director James Comey told a congressional hearing he had seen no evidence to support a claim by Trump that former President Barack Obama had wiretapped his campaign headquarters in Trump Tower in New York.

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