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Wall Street loses steam as banks, energy stocks weigh


By Tanya Agrawal(Reuters) - U.S. stocks stalled in late morning trading on Wednesday as weak oil prices weighed on energy stocks and doubts over a Republican tax plan and the broader outlook for U.S. growth hurt banks.Investors were nervous about the potential outcome of the plan to cut corporate taxes, which was unveiled last week and is seen as crucial to any hopes of stronger U.S. economic growth. As well as slashing the corporate rate to 20 percent from 35 percent, the bill would eliminate many tax breaks and is expected to face opposition from interest groups.U.S. House Speaker Ryan told ...

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First Published: Wed, November 08 2017. 22:15 IST