Markets fall on possible delay in US tax cuts

Markets fell on Friday.

The S&P 500 fell 0.1 percent, the STOXX Europe 600 fell 0.4 percent and the Nikkei 225 fell 0.8 percent.

The market declines were largely attributed to concerns about a possible delay in the President Donald Trump's much-anticipated corporate tax cuts.

“Markets have had a direct correlation to the tax plan, and have been falling on signs that progress is slowing down, and the idea that corporate taxes will be cut later than we had been expecting,” said Richard Sichel, chief investment officer at Philadelphia Trust Co.

However, Michael McCarthy, chief market strategist at CMC Markets, said in a note: “Safe haven assets were only mildly bid, suggesting this is corrective action rather than an unfolding reversal.”