Stocks slump as finance and healthcare firms fall

U.S. stocks slumped Friday as financial and healthcare companies moved down. Industrial companies rose as stocks continued the up-and-down pattern they’ve been stuck in for the last month.

Banks fell as bond yields and interest rates slid early in the day. Energy companies sank with oil prices.

Strong results from Honeywell and aviation electronics maker Rockwell Collins helped industrial firms. Toy maker Mattel plunged after it reported its second disappointing quarter in a row. Stocks climbed in the final minutes of trading, leaving the Standard & Poor’s 500 index up 1% for the week.

President Trump gave the market a fleeting boost in the afternoon when he said his administration would release a tax reform proposal next week that includes a large tax cut. He didn’t provide details.

Go to Source