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History says Biden’s planned capital-gains tax will put immediate selling pressure on stocks, according to Goldman Sachs | Markets – Business Insider

History says Biden’s planned capital-gains tax will put immediate selling pressure on stocks, according to Goldman Sachs

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  • Joe Biden’s planned capital-gains tax may put immediate selling pressure on stocks, according to Goldman Sachs.
  • In a Friday note the firm explained that the last capital-gains tax hike in 2013 sparked a stock sell-off worth roughly $100 billion from wealthy individuals.
  • However, those individuals who sold quickly bought back stocks only a few months later, leading Goldman to conclude that the household selling around tax hikes will be “short-liv…

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Dow Jones Dives 400 Points On Jump In Coronavirus Cases; Tesla Reverses Higher – Investor’s Business Daily

Dow Jones futures dived nearly 400 points on a jump in coronavirus cases Monday. Tech giants Apple and Tesla are testing a key support level.

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The Dow Jones Industrial Average dived nearly points early Monday, while the S&P 500 and Nasdaq also tumbled on a jump in coronavirus cases.  Tesla fell as the stock tries to find support at a key level. Dunkin’ Brands soared 15% on acquisition talks.
XBlue chip leader Microsoft (MSFT) fell 0.5% in today’s stock market, before paring its loss to turn slightly higher. The stock is right around the 50-day moving average.
Facebook (FB), JD.com (JD), JFrog (FROG) and Tesla (TSLA) are approaching new…

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Average daily new coronavirus cases in U.S. hit all-time high, expert warns of ‘exponential spread’ – CNBC

The worrying rise in new cases come after White House chief of staff Mark Meadows acknowledged that the U.S. is not going to control the pandemic.

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Shannon Axelsson takes a break from sitting on the beach to be tested for the coronavirus disease (COVID-19) in Revere, Massachusetts, August 11, 2020.
The average number of new daily cases of coronavirus in the United States is at a record stressing local hospital systems and forcing new curfews and other restrictions in some parts of the country.
With fall holidays such as Halloween and Thanksgiving approaching, the U.S. has now established its third peak of daily new cases with no signs of letting…

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Software stocks take a hit after SAP’s profit and sales warning – MarketWatch

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Shares of business software companies fell Monday, after Germany-based software giant SAP SE
SAP,
-22.76%
SAP,
-22.35%
issued a profit and sales warning as customers have pushed back investments as a result of the COVID-19 pandemic. Shares of Oracle Corp.
ORCL,
-5.11%
sank 2.9% in premarket trading, Salesforce.com Inc.
CRM,
-2.89%
dropped 1.6% and Microsoft Corp.
MSFT,
-1.54%
slid 1.1%. SAP’s U.S.-listed shares plunged 21% premarket, putting them on track to open at a 5-month low. The…

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