Stocks Take a Hit After Health Care Overhaul Falters -
By PRASHANT S. RAOMARCH 27, 2017
Stock markets slumped on Monday, the first full day of trading after President Trump’s efforts at health care reform fell short, an apparent sign to investors
that hopes of tax reform and financial stimulus may be in doubt.
“The U. S. market had already started to weaken over the last month over concerns about the U. S. administration, and the reform agenda
that they had,” said Graham Secker, a London-based equities strategist at Morgan Stanley.
But the collapse on Friday of a health care bill — a legislative priority
that not only dominated much of President Trump’s first two months in office, but also much of his election campaign — has cast uncertainty on the other parts of his agenda.
Buoyed by the promise of both houses of Congress and the White House being in Republican control, the stock market had been on a monthslong rally as investors anticipated measures on regulations and taxes
that would be friendly to business, coupled with hefty spending on infrastructure.
Congressional Republicans have already started discussing scaling back ambitious tax reform plans.
