Exchange Operators Retreat on Proposal for U.S. Transaction Tax

U.S. exchange operators fell after lawmakers said they will propose a tax on financial transactions such as stock and bond trades.

NYSE Euronext (NYX) declined 6 percent to $24.98 at 3:51 p.m. New York time, while Nasdaq OMX Group Inc. (NDAQ) fell 2.9 percent to $24.33. CME Group Inc. (CME) slumped 8.6 percent to $251.79.

Senator Tom Harkin, an Iowa Democrat, and Representative Peter DeFazio, an Oregon Democrat, said they will introduce the bills tomorrow in their respective chambers.

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