NEW YORK, Nov. 13 (Xinhua) -- U.S. stocks opened lower on Monday as investors worried that the country's tax reform may not happen until 2019.
Shortly after the opening bell, the Dow Jones Industrial Average lost 53.99 points, or 0.23 percent, to 23,368.22. The S&P 500 decreased 6.20 points, or 0.24 percent, to 2,576.10. The Nasdaq Composite Index was down 19.12 points, or 0.28 percent, to 6,731.82.
The indices had rallied to record highs amid renewed expectations that the U.S. Congress, along with the Trump administration, would be able to move forward with tax reform this year.
Rising concerns emerged after the Senate Republicans on Thursday unveiled a plan to overhaul the U.S. tax code that contains key differences from a comparable House tax plan.
The Senate bill would delay a corporate tax cut from 35 percent to 20 percent until 2019, denting investors' hope for a new tax plan before the end of this year.
In corporate news, China's e-commerce company JD.com reported quarterly revenue of 12.58 billion U.S. dollars, higher than market consensus and up 39 percent from last year.
The online retailer also reported adjusted earnings of 23 cents per share, beating market expectations. Shares of JD jumped 3 percent after the report. Enditem
