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GE slump, tax plan doubts pressure Wall Street


By Sruthi ShankarREUTERS - Wall Street's main indexes were under pressure in early afternoon trading on Monday after GE shares hit their lowest in five years and investors fretted over the future of the U.S. tax reform plan.General Electric slashed its dividend and profit forecast earlier in the day, while unveiling a plan that narrowed its focus on aviation, power and healthcare. Shares of the industrial conglomerate fell 7.6 percent as investors worried that plans for a years-long transformation did not show how the slimmed-down company would generate cash to justify its stock ...

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First Published: Mon, November 13 2017. 23:38 IST