The benchmark S&P 500 was down as much as 1.6 percent following the report. But stocks recouped the bulk of their initial losses, after US Senate Republicans said they had enough support to pass a sweeping tax overhaul. The Senate news was the latest sign of progress for a tax bill being closely watched by investors, with hopes that significant corporate tax cuts will further fuel Wall Street's record-setting rally. The S&P 500 has closed down by at least 1 percent only four times in 2017. But with investors optimistic about some aspects of Trump's domestic agenda, especially tax cuts, news involving his administration has periodically rattled markets.

Source: bd News24 December 01, 2017 21:22 UTC