6/7, 10:30 AM (Source: TeleTrader)
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US mostly down premarket following global tax initiative

Equities on Wall Street traded mostly lower in the premarket session on Monday, with investors worried about what the recent news on the global tax plan would mean for the stock market. Over the weekend, the G7 agreed on a plan to instate a minimum global tax of at least 15%, something which the United States Treasury Secretary Janet Yellen stated will ensure fairness and "help the global economy thrive."

Meanwhile, US President Joe Biden and his predecessor Donald Trump had different views on how the country's economic recovery was going, while Biden's hopes for a bipartisan infrastructure bill seemed to be crushed.

The Dow Jones stood flat at 4:26 am ET, while the Nasdaq 100 decreased 0.37% at the same time. Meanwhile, the S&P 500 traded 0.15% in the red a minute later. The euro declined 0.09% against the dollar trading for $1.21562 at 4:27 am ET.

Breaking the News / OL