U.S. stocks skidded Thursday after Senate Republicans surprised Wall Street by proposing a delay in cutting corporate taxes. Industrial and technology companies fell the most, but stocks pared their losses in afternoon trading.

On Thursday:

The Standard & Poor's 500 index slumped 9.76 points, or 0.4 percent, to 2,584.62.

The Dow Jones industrial average sank 101.42 points, or 0.4 percent, to 23,461.94.

The Nasdaq composite retreated 39.07 points, or 0.6 percent, to 6,750.05.

The Russell 2000 index of smaller-company stocks declined 6.71 points, or 0.5 percent, to 1,475.02.

For the week:

The S&P 500 is down 3.22 points, or 0.1 percent.

The Dow is down 77.25 points, or 0.3 percent.

The Nasdaq is down 14.38 points, or 0.2 percent.

The Russell 2000 is down 19.89 points, or 1.3 percent.

For the year:

The S&P 500 is up 345.79 points, or 15.5 percent.

The Dow is up 3,699.34 points, or 18.7 percent.

The Nasdaq is up 1,366.94 points, or 25.4 percent.

The Russell is up 117.89 points, or 8.7 percent.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.