Industrials plunge on concerns over Trump agenda

|By:, SA News Editor

The S&P 500 Industrials Index falls as much as 1.7%, as growing concerns around Pres. Trump’s administration casts doubt on potential tax reform and infrastructure action.

Top decliners on the index include United Rentals (URI -4.9%), American Airlines (AAL -3.3%), CSX (CSX -2.6%), Union Pacific (UNP -2.9%), Snap-On (SNA -3.3%) and Rockwell Automation (ROK -2.1%).

Among construction materials companies, Vulcan Materials (VMC -3%) and Martin Marietta (MLM -2.5%) are sharply lower.

The S&P 500 Machinery Index also slides 1.7%, with top decliners including Stanley Black & Decker (SWK -1.7%), Caterpillar (CAT -1.2%), Cummins (CMI -2%), Fortive (FTV -1.6%), Flowserve (FLS -1.3%) and Parker Hannifin (PH -1.5%).