U.S. equity markets turned sharply lower Thursday afternoon following a report that the Biden administration is mulling increasing the capital gains tax.
The Dow Jones Industrial Average fell over 321 points, or 0.94%, while the Nasdaq Composite and S&P 500 declined 0.92% and 0.94%, respectively.
|I:DJI||DOW JONES AVERAGES||33815.9||-321.41||-0.94%|
|I:COMP||NASDAQ COMPOSITE INDEX||13818.412584||-131.81||-0.94%|
Biden, according to Bloomberg, is exploring…