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Investors Lose Faith in Republican Tax-Cut Vow Amid Trump Chaos

  • House speaker says ‘we’re going to keep passing our bills’
  • Standard & Poor’s 500 declined 1.8%, the most in eight months
Bloomberg business news

Comey Memo Casts Cloud Over GOP Agenda

Republican leaders were still pitching their plans to overhaul the health-care system and tax code Wednesday, despite a steady stream of chaos from the White House. But markets weren’t buying it.

U.S. stocks slumped as investors became concerned about the shrinking odds of a tax cut, following reports that President Donald Trump asked former FBI Director James Comey to drop an investigation of former National Security Adviser Michael Flynn. The allegations spurred Republican oversight leaders to demand information from the administration.