S&P 500, Nasdaq dragged by tech as upbeat data fans inflation fears

Published by
Reuters

By Lewis Krauskopf, Shashank Nayar and Medha Singh (Reuters) – U.S. stocks wavered on Thursday, with tech shares dragging on the S&P 500 and Nasdaq, as investors balanced concerns about inflation and the Federal Reserve reining in stimulus with relief about corporate tax hikes. The Dow was little changed as stocks rebounded somewhat after reports that President Joe Biden offered to scrap his proposed tax hike. In talks with Republicans, the Democrat offered to drop plans to hike corporate rates as high as 28%, and instead set a 15% minimum tax rate for companies, sources told Reuters. A better…

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