Stocks fell on Thursday afternoon after Bloomberg reported that President Biden would propose raising the capital gains tax rate for people earning at least $1 million. Prior to the tax news, stocks were mixed as investors weighed new 1Q earnings reports, a decline in existing home sales, and weekly employment data. First-time jobless claims fell to 547,000, a new post-pandemic low and below the consensus forecast of 610,000. Continuing claims fell to 3.674 million, down from 3.708 million a week earlier but