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Wall Street slips amid tax reform uncertainty, General Electric losses

The S&P and the Dow ended the week lower for the first time in nine weeks on Friday

Reuters 

US stocks were lower in morning trading on Monday as uncertainty over a US tax reform deal and GE's dismal outlook hit investor sentiment. General Electric fell 3.5 percent after the industrial conglomerate cut its 2018 profit forecast, slashed dividend and unveiled a restructuring plan. The stock weighed the most on the S&P 500 index. The S&P and the Dow ended the week lower for the first time in nine weeks on Friday after Senate Republicans unveiled a new tax plan that differed from the House of Representatives' version. Hopes of lower taxes, one of President Donald ...

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First Published: Mon, November 13 2017. 22:00 IST
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