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Stocks, dollar fall on Senate tax plan concerns

Global Markets

Stocks, dollar fall on Senate tax plan concerns

Bloomberg Published on Fri, Nov 10, 2017 / 8:38 AM GMT+8

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WASHINGTON (Nov 10): US stocks stumbled Thursday, with losses widening after the Senate revealed that its tax plan would delay cuts to the corporate rate until 2019. Treasuries turned higher and the dollar extended losses.

All major US equity gauges fell, with selling heaviest in technology shares that had been on a 10-day surge. Semiconductor stocks tumbled after Intel Corp. hired away a key executive at Advanced Micro Devices Inc. to run its new graphics chip business.

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