S&P 500 gives up gain on Biden capital gains tax report

[tsptalk]

S&P 500 gives up gain and declines in sudden move on Biden capital gains tax report

U.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%.

https://www.cnbc.com/2021/04/21/stock-market-futures-open-to-close-news.html

 

[tsptalk]

Not exactly a shock. The market just chose to ignore this for as long as it could.

 

[Valkyrie]

Bless his little black heart

 

[Bullitt]

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.