The Dow Jones Industrial Average slumped on Tuesday following House passage of the controversial GOP tax legislation.
The Dow fell 0.15% after The House of Representatives passed a Republican-led tax bill whose benefits for corporations and wealthy Americans have helped drive U.S. equity markets to records in recent days. The vote was 227 to 203, with no Democrats supporting the bill and 12 Republicans opposed.
The S&P 500 dropped 0.32% and the Nasdaq declined 0.44%
Apple Inc. (AAPL) shares fell 1% on Tuesday to $174.54 following a report that suggested sales of its flagship iPhone X may not be robust enough to top Wall Street forecasts as customers turn to cheaper models and shun the $1,000 price tag.
Shares of Darden Restaurants Inc. (DRI) jumped 6.7% after the company's quarterly earnings and sales topped forecasts and Darden raised its 2018 outlook.
Kindred Healthcare Inc. (KND) reached an agreement to be acquired for $9 a share by Humana Inc. (HUM) and two private-equity firms, TPG Capital and Welsh, Carson, Anderson & Stowe. The total value of the deal is about $4.1 billion in cash, including debt.
Kindred shares fell nearly 5%.
General Motors Co. (GM) rose almost 1% after the automaker received an upgrade to outperform from RBC Capital.
Carnival Corp. (CCL) rose 2% after the cruise company posted fiscal fourth-quarter profit that soared past Wall Street estimates.
In economic news, housing starts for November rose 3.3% for a seasonally adjusted annual rate of 1.297 million, the Commerce Department said. Economists had expected starts to fall 3.1%.
Global oil prices extended gains Tuesday after the operator of the Forties Pipeline System made no changes to the repair time estimate for the pivotal North Sea conduit.
West Texas Intermediate crude rose 0.3% to $57.35.
The dollar index, which tracks the greenback against a basket of six global currencies, softened modestly to trade at 93.62.
European shares traded mixed and Asian stocks ended the session in similar fashion.
Bitcoin prices were also largely stable on Tuesday, as futures contracts from both the CME Group and the Cboe smoothed out price differentials between buying the cryptocurrency for immediate delivery or for settlement in the month of January.
Spot bitcoins on the bitstamp exchange were seen changing hands at $17,940, while Cboe futures were priced at $18,350 and CME futures at $18,360.
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