Wall Street ends lower after anticipated vote on healthcare law canceled

Economies.com
2017-03-23 20:52PM UTC

U.S. stock indices closed largely lower on Thursday after House Republican suddenly postponed the voting on a crucial healthcare law due to lack of support, stoking concerns about president Donald Trump's ability to to achieve his legislative agenda alongside Republicans, including tax cuts for corporations and relaxing banking regulations, which contributed recently to a big rally in the markets to record highs. 

 

On the same note, earlier U.S. data showed unemployment claims up unexpectedly, while new home sales rose more than expected in February. 

 

Additionally, Fed Chair Janet Yellen presented opening remarks at the Federal Reserve System Community Development Research Conference, in Washington DC; mentioning subjects such as poverty and education in order to develop children's skill and improve the U.S. labor efficiency, but Yellen didn't talk about the monetary policy or comment further on the recent rate hike decision. 

 

Dow Jones closed down 0.02%, or 4.72 points to 20,656.58, while Standard and Poor's 500 shed 0.11%, or 2.49 points to 2,345.96. NASDAQ Composite gave up 0.07%, or 3.95 points to 5,817.69. 

 

Gold futures due on April 15 fell 0.34% to $1,248.50 an ounce from the opening of $1,252.80, while the dollar index rose 0.05% to 99.73 from the opening of 99.68. 

 

On another note, U.S. crude futures due on May 16 shed 0.73% to $47.69 a barrel from the opening of $48.04, while Brent crude futures due on May 16 slid 0.22% to $50.53 a barrel from the opening of $50.64.

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