Stocks Snap Lower As Biden Budget Suggests Retroactive Capital Gains Tax Hike

Stocks Snap Lower As Biden Budget Suggests Retroactive Capital Gains Tax Hike

US equity markets hit a vacuum to the downside briefly this morning shortly after headlines that the $6 trillion Biden budget malarkey includes the assumption that a retroactive capital gains tax hike would be included (which would start in April).

That suggests the odds of getting the budget through as is are lower.

But, as one can see in the chart – the stumble in stocks is quickly being erased because – BTFD on any govt spending!?

 

 

Tyler Durden
Thu, 05/27/2021 – 11:00

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Author: Tyler Durden

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