Wall Street flags after Trump's speech

Economies.com
2017-01-12 15:21PM UTC

U.S. stock indices opened Thursday lower as the negative impact of U.S. President-elect Donald Trump's speech yesterday still carries on, after disappointing the markets and attacking pharmaceutical companies.
 
Trump's first press conference since winning the elections didn't include any details on Trump's new stimulus plans or his corporate tax cuts, which were the reason behind Wall Street's recent gains, in turn hurting the stocks today.
 
Additionally, Trump attacked pharmaceutical companies for high drug prices, which forced their stocks down after a six-day winning streak.
 
On the other hand, energy shares steadies after crude prices rose for the second session, drawing support from dollar's tumble to a five-week low against main currencies.
 
Standard and Poor's 500 fell 0.39%, or 8.98 points to 2,266.34, while Dow Jones shed 0.62%, or 124.13 points to 19,830.15.
 
Tech-heavy NASDAQ tumbled 0.70%, or 38.93 points to 5,524.72.

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