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Stocks Sink As Tax-Cut Hopes Fade, Junk Bonds Hit 8-Month Lows

Sell the news? Stocks are slumping (following Japan's overnight volatility) as traders await tax-cut legislation from the House Ways and Means Committee (and The Senate will also release its own version).

High-Tax companies are underperforming...


And Junk bonds just hit the lowest since March...


Whether this selling due to disappointment in what is expected to be in the bill... or an expectation that it will not pass anyway - is unclear.