A steady steam of news around the Republican tax plan weighed on investor sentiment and left US equity markets and the dollar nursing losses - Dow fell -101-points or -0.43%, recovering from an earlier fall that saw the index down over >200-points. The broader S&P500 -0.38%, also closing off session lows that saw the index down ~1%. The NASDAQ lost -0.58%. The House Ways and Means Committee approved revisions to the Republican tax legislation, with the changes including delaying the implementation of a cut to the corporate tax rate to 20% (from the current maximum 35%) by one year to 2019. The changes increased the level of disquiet among investors around the ability of the US government to pass tax reform soon. The bill now goes to full House floor for a vote as soon as next week.
