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Investors got spooked by a potential boost to capital-gains rates for high-income taxpayers.
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 Mattel Inc. stock rallied late Thursday after the toy maker reported a narrower-than-expected quarterly loss and said its sales surged nearly 50%.
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Stocks got back on the horse on Wednesday, with both the Dow and S&P 500 indexes finishing at their second-highest levels ever, as investors continue to smile on strong economic growth prospects.
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 Shares of Celanese Corp. rose 2% in the extended session Thursday after the chemical and specialty materials company reported first-quarter results that topped Wall Street views. Celanese earned $323 million, or $2.82 a share, compared with $220 million a year ago. Adjusted for one-time items, the company earned $3.46 a share. Sales rose to $1.8 billion, from $1.5 billion a year ago, as pricing rose 15%, "more than offsetting" volume declining 3%, the company said. Analysts polled by FactSet expected adjusted earnings of $2.98 a share on sales of $1.7 billion. The stock ended the regular trading day down 2.9%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 U.S. stocks finish lower following reports of Biden tax hike proposal
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President Joe Biden will use a speech to Congress next week to outline his "American Families Plan," White House press secretary Jen Psaki said Thursday. The plan is expected to focus on policies including paid family leave, childcare and free community college. Asked about a report that Biden will propose nearly doubling capital gains taxes on wealthy Americans to help pay for the plan, Psaki said she wouldn't get ahead of Biden's final decisions. She reiterated his pledge not to raise taxes on anyone making less than $400,000 a year. "We're still finalizing what the pay-fors look like," she said. U.S. stocks turned south in afternoon trade after a report said Biden is weighing the capital-gains proposal.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Dow tumbles 321 points on Biden's capital gains tax hike plan Fox BusinessHere's what higher capital gains taxes could mean for markets and the economy CNBC TelevisionBiden Will Seek Tax Increase on Rich to Fund Child Care and Education The New York TimesBiden wants to tax the rich --- here's what experts say about how he could do it MarketWatchStocks slide on report Biden will raise capital gains tax CNBC Television
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The global tally for the coronavirus-borne illness rose to 143.96 million on Thursday, as the death toll increased to 3,061,478, according to data aggregated by Johns Hopkins University. The U.S. continues to lead the world in cases and deaths by wide margins, with 31.86 million cases, or 22.1% of the global total, and 569,404 deaths, or 18.6% of the worldwide total. The U.S. added at least 62,956 cases on Wednesday, down from 64,530 on Tuesday, while new deaths slipped to at least 720 from 729, according to a New York Times Tracker. But the U.S. also leads the world in vaccines administered, at 215.95 million. At least 134.45 million people, or 40.5% of the total population, have received at least one dose as of Wednesday evening, according to data provided by the Centers for Disease Control and Prevention, and 87.59 million people, or 26.4% of the total population, have been fully vaccinated.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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