Friday, 23 April 2021: US equity markets retreated following a Bloomberg report that on the Biden administration
Apr 25, 2021 ·
6m 18s
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Description
US equity markets retreated following a Bloomberg report that the Biden administration is planning a capital gains tax hike to as high as 43.4% for wealthy Americans – Dow fell...
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US equity markets retreated following a Bloomberg report that the Biden administration is planning a capital gains tax hike to as high as 43.4% for wealthy Americans – Dow fell -321-points or -0.94%, logging its largest single session point and percentage decline since 4 March despite paring an earlier decline of as much as -420-points. The broader S&P500 fell -38-points or 0.92%, booking its largest single session point and percentage decline since 18 March. Materials (down -1.75%) and Energy (-1.41%) lead all eleven primary sectors lower. The technology-centric Nasdaq shed -0.94%. The small capitalisation Russell 2000 index -0.31%. In merger and acquisition news (M&A), Skyworks Solutions Inc rose over >4.5% in extended trading after the semiconductor manufacturer announced it will acquire the infrastructure and automotive business of Silicon Laboratories Inc (up ~14% in after hours trading) for US$2.75B.
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Author | Morgans Financial Limited |
Organization | Morgans Financial Limited |
Website | - |
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