Morning Report 4 Jun 21: US sharemarket fell on Thursday

Strong economic data prompted concerns that the US Federal Reserve may withdraw its stimulus earlier-than-expected. But equities pared back some losses after a report US President Joe Biden may be open to a lower corporate tax rate than 28%, instead setting a 15% minimum tax rate for companies. Shares of General Motors jumped 6.4% on 'significantly better' first-half results. Rival Ford's shares rose 7.2%. But Tesla lost 5.3% on reports of weak China sales. The Dow Jones index fell by 23 points or 0.1%. The S&P 500 index lost 0.4% and the Nasdaq index was down by 142 points or 1%.  

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