US stocks fall, tax cut in focus

US stocks fell on Tuesday, with the S&P 500 declining 0.3 percent.

Wharton School finance professor and longtime market bull Jeremy Siegel suggested on Tuesday that more declines may be ahead.

“I'm very positive on the tax plan but it's buy on the anticipation, sell on the news,” he said on CNBC.

Nevertheless, Jeremy Klein, chief market strategist at FBN Securities, said that the “certainty” of the tax cut “precludes share prices from taking a meaningful tumble in the short term”.