U.S. Stocks Reverse Gains After Fed, Ryan Comments as Bonds Gain
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Stocks tumbled in the last 90 minutes of trading, with the Dow Jones Industrial Average giving up a 198-point gain as traders assessed the path for interest rates and weighed the likelihood of tax reform by the Trump administration.
The S&P 500 dropped 0.3 percent to 2,352.95 at 4 p.m. in New York. The benchmark was little changed on Tuesday, with volatility dropping for the first time in four sessions. The Dow Jones Industrial Average lost 0.2% to 20,648.15.