US stocks lower Investors worried about the impact of tax reform on monetary pol

US stocks fell on Tuesday as excitement over the likely passage of the U.S. tax reform bill was more than offset by worries that the tax reform would affect monetary policy stimulus over the years and future interest rates.

The U.S. House of Representatives voted in the afternoon to pass the tax reform bill, and the Senate is expected to vote tonight. Republicans are confident the bill will sign the legislation by the weekend.

After the House vote, the stock market extended losses, after a few weeks earlier, the United States rose by optimistic expectations that the tax cuts will boost the U.S. economy and corporate profits. Some investors also said that most of the above benefits have been reflected in the stock price.

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The S & P 500 index has risen about 5% since the House passed a version of its tax reform bill in mid-November.

"The stock market certainly has digested the tax reform," said Jack Ablin, chief investment officer at BMO Private Bank. Investors may also "celebrate the tax reform legislation, but at the same time be aware that the central bank may have begun to take it over in the past few years."

The tax reform proposal will cut the corporate tax rate from 35% to 21%. Investors expect this to boost corporate profits and drive share repurchases and dividend increases.

S & P 500 Technology Index fell 0.5%, technology stocks on the main stock index the most pressure.

The Dow Jones industrial average DJI fell 37.45 points or 0.15% to 24,754.75 and the S & P 500 set the index down 8.69 points or 0.32% to 2,681.47 points. The NASDAQixixICIC fell 30.91 points or 0.44% To 6,963.85 points.