Stocks ended lower Thursday, falling in afternoon action after Bloomberg News reportedthat President Joe Biden would propose a near doubling of the capital gains rate for investors making more than $1 million a year. The Dow Jones Industrial Average fell around 322 points, or 0.9%, to close near 33,815, while the S&P 500 declined around 38 points, or 0.9%, to finish near 4,135. The Nasdaq Composite shed around 132 points, or 0.9%, to close near 13,818.
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