S&P 500 suffers worst day since Trump victory on policy delay fears

Concerns about delays to promised tax cuts

US equities recorded their worst day's trading since the election of President Trump last November, with the S&P 500 falling 1.2%, on fears of delays to proposed tax cuts and other pro-growth policies.

The Dow Jones fell 237.85 points to close at 20,668.01 while the S&P 500 dropped to 2,344.02 on concerns President Trump will struggle to get some of his policies through Congress, such as the repeal of Obamacare which is facing strong opposition ahead of a crucial vote. Asian shares followed the US lower, with the MSCI Asia Pacific index falling the most since December, as financial and commodity shares led the sell-off. According to Bloomberg, benchmark indices in Japan, Hong Kong and Australia fell at least 1.4%, while a gauge of emerging-market stocks halted an eight-day rally. Me...