(CNBC) — Stocks fell on Monday after a report surfaced saying the House is considering a plan that would gradually lower the U.S. corporate tax rate.
Bloomberg reported the plan being discussed by the House would leave the corporate rate at 20 percent by 2022. The gradual plan is "has been considered" but is not final, according to the report.
That report "is absolutely hitting the market," said Dave Lutz, head of ETF trading at JonesTrading. "We started reversing as soon as the headline hit."
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