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Daily Recap

Following lower prices across the board in Asia, European stocks were mixed and then US stocks were mixed up. The Asia Dow finished unchanged on the day, despite every one of the biggest Asian markets closing lower, including a 1% drop in the Hang Seng. Go figure... The STOXX 600 finished lower, down 0.19%. And then the US markets opened, mostly on the upside, led by the NASDAQ.

 

But traders soon started having second thoughts on the impact of the proposed tax reforms, which now apparently will have the AMT for businesses after all. US stocks started a gradual retrenchment that basically lasted all day, as major indices closed in the red across the board. The Industrials lost 122 points, or half a percent. The S&P fell 0.37%, while the NASDAQ - the day's strongest - ended with a 13 point or 0.19% loss. The Transports fell a big 1.35%, and ... Log in or subscribe to continue reading.


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