U.S. Stocks Fall, Led by Industrials, on Trump Border Tax Remark

U.S. stocks fell amid mounting losses in industrial and energy shares as investors weighed the Trump administration’s trade policies, including comments from the president mentioning a “very major” border tax.

The S&P 500 Index declined 0.3 percent to 2,265.20 at 4 p.m. in New York after slipping 0.2 percent over the four days ended Friday, its second straight weekly decline. The Dow Jones Industrial Average fell 27 points, or 0.1 percent, to 19,799.85. The Nasdaq 100 Index rose less than 0.1 percent. After the close, Yahoo! reported 4Q adjusted earnings that beat analysts’ estimates.

  • Six of 11 industry groups lower
  • An index of hospital companies lost as much as 2.8 percent after Trump signed an executive order to “waive, defer, grant exemptions from, or delay the implementation of” Obamacare
    • The gauge surged 21 percent over the period from Nov. 8 through Jan. 17; has since tumbled 5 percent over four days
    • Biggest losers on Monday included CYH (-2.1%), QHC (-1.5%), UHS (-1.2%)
  • Halliburton slipped as much as 4.5 percent, its biggest intraday loss since Sept. 9, even after reporting quarterly profit that beat analyst estimates
  • VIX rose 2.3 percent, its fourth gain in five days
  • Analysts estimate profit at S&P 500 companies rose 4.4 percent in the fourth quarter of 2016, and see profit jumping 12 percent this year
  • The Bloomberg Dollar Spot Index fell 0.7 percent, its third consecutive daily decline; the gauge recently slipped for a fourth straight week
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