The Dow Jones Industrial Average fell 40.76 points, or 0.17 percent, to 24,231.59, the S&P 500 lost 5.36 points, or 0.20 percent, to 2,642.22 and the Nasdaq Composite dropped 26.39 points, or 0.38 percent, to 6,847.59. The S&P earlier fell as much as 1.6 percent. The pan-European FTSEurofirst 300 index lost 0.74 percent and MSCI's gauge of stocks across the globe shed 0.39 percent.
NEW YORK: US stocks are expected to keep rising this year because a massive drop in the corporate tax rate is seen boosting the economy and corporate profits, but strategists say sizeable gains could either be short-lived or elusive.
The bull market is on track to mark its ninth birthday in March, with the S&P 500 climbing 20% for 2017 – its biggest increase since 2013. The drop in the corporate tax rate in 2018, to 21% from 35%, is seen by many as the biggest factor for the stock market this year.
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