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Stocks slide on tax bill concerns

Stocks (^DJI, ^GSPC, ^IXIC) slide as tax bill concerns persist. Catch The Final Round at 3:55 p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.

Today we discuss:

  • Disney finally closes its $52 billion tie-up with Fox. But is it really a done deal?
  • Net neutrality got the axe today. What the vote means for Netflix, Facebook and Amazon.
  • Two signs of the market top.
  • Alicia Levine, director of Portfolio Market Strategy at BNY Mellon, says the economy will hit a “sweet spot” in 2018.

Winners and Losers

Stocks ending the day in the red include:

  • Valeant Pharmaceuticals on a downgrade to underweight at JPMorgan;
  • Pier 1 Imports after the home goods retailer reported weaker-than-expected current-quarter guidance;
  • Sanderson Farms after earnings fell short of expectations, in part due to higher-than-expected chicken production.

Stocks in the green today include:

  • Teva Pharmaceutical after the company announced it’s cutting more than 25% of its workforce;
  • Tiffany after an upgrade to buy at Citi;
  • Disney after announcing it’s spending $52 billion for most of 21st Century Fox’s film and TV assets.