(US stocks / closed) Three major indexes ... Concerns about US tax reform

(US stocks / closed) Three major indexes ... Concerns about US tax reform

NEW YORK, Nov. 18 (Reuters) - The number of shares in the New York Stock Exchange fell sharply in a day. Without special materials to move the market, investors focused on uncertainty about tax reforms.

The Dow Jones industrial average fell 100.12, or 0.43 percent, to 23,358.24. The Standard & Poor's 500 index fell 6.79p, or 0.26 percent, to 2,578.85. The Nasdaq composite index fell 10.50, or 0.16 percent, to 6,782.79.

Matt Lloyd, senior investment strategist at Advisor Asset Management, said investors are likely to remain in position, saying it is unlikely that new bets will be seen as the trading volume declines for next week's Thanksgiving holiday.

"The main factors that will have the greatest impact on the stock market are the Senate and the House of Representatives," he said. "Everyone is interested in whether the House and Senate will pass the tax reform bill and bring it to the president."
The previous day, the House of Representatives passed a tax reform bill at the plenary session. It has taken an important step toward the biggest tax reform since the 1980s. White House spokesman Sarah Sanders said the tax reform bill would be "rocket fuel" for the economy.

Now, Bhutan has passed over to the Senate. The Senate also has a majority in the Republican Party, but it is difficult to pass if all the Democrats and two or more Republicans oppose it. There are more than two Republican senators who say they oppose the Senate reform bill. The Senate vote will likely take place after Thanksgiving holiday on the 23rd.

Two-thirds of the 60 economists surveyed by the Reuters poll say they are not sure that the tax cuts will pass this year.

"Everyone is wondering what the devils in the details are, looking at the tax reform bill," said Bruce McCain, chief executive officer of KeyBriefBank.
The Wall Street Journal (WSJ) reports that US officials, who are investigating Russian involvement in the US presidential election last year, are required to provide more detailed information on Trump 's presidential campaign, also put pressure on the US dollar and US Treasury yields.

Seven of the 11 S & P 500 sectors fell. Utilities and technology stocks were down 0.74% and 0.67%, respectively. Meanwhile, telecoms gained 0.65%.
The 21st Century Fox rose 6.24%. Comcast, the No. 1 cable provider in the United States, and Verizon, a US carrier, expressed interest in a substantial portion of the 21st Century Fox's assets.

Electric car maker Tesla rose 0.82%. Tesla released two electric trucks and a $ 200,000 sports car.

Apparel makers Abercrombie & Gap jumped 23.90% and 7.03%, respectively, after surpassing expectations.

On the same day, the share prices of sporting goods companies also skyrocketed due to their lively performance. Footlocker, 28.28%, Shankanibal, 29.67% and Hibet Sports, 15.15%, respectively.