Not exactly a shock. The market just chose to ignore this for as long as it could.
S&P 500 gives up gain and declines in sudden move on Biden capital gains tax report
https://www.cnbc.com/2021/04/21/stoc...lose-news.htmlU.S stocks fell to session lows in a swift fashion on Thursday after a report that President Joe Biden is slated to propose capital gains taxes for the rich.
The S&P 500erased earlier gains and fell 0.5%. The Dow Jones Industrial Average dipped 230 points to its low of the day, while the Nasdaq Composite traded 0.3% lower.
Bloomberg News reported Thursday afternoon that Biden is planning a capital gains tax hike to as high as 43.4%.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Not exactly a shock. The market just chose to ignore this for as long as it could.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Bless his little black heart
"Our Constitution was made only for a Moral and Religious people. It is wholly inadequate to the goverment of any other." John Adams 10/11/1798
Amazing that talk of this would even move markets since everyone knows it's been coming. Been one hell of a first 100 days. The steam roller has just started.
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