Stocks have pared their gains following the release of Trump's tax plan.
President Donald Trump's long-awaited tax plan came and went with a whimper, at least judging by the stock market's reaction.
A 50-company basket of highly taxed companies maintained by Goldman Sachs pared gains following the announcement, now up 0.4% for the day.
The lack of enthusiasm for the index stands in contrast to the months following the presidential election, when it ripped as much as 14% higher through the end of February.
The muted reaction was mirrored more broadly by the S&P 500, which also fell from pre-tax plan levels after a short-lived spike up near an intraday high. The benchmark rose 0.2% as of 2:25 p.m. ET.
Now that an update on Trump's tax plan has failed to further ignite a stock market yearning for progress, investors must now reassess the areas that have gained the most on expectations of bullish policy.
Stocks have pared their gains following the release of Trump's tax plan. Read Full Story
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