2017.12.1422:29:00UTC+00US Stocks Decline as Worries About Tax Bill Persist

U.S. equities ended lower on Thursday as two GOP Senators raised some concerns regarding the tax bill.

The Dow Jones industrial average dropped 76.77 points to 24,508.66 after hitting an all-time intraday peak earlier in the session. The index also snapped a five-day winning streak.

The S&P 500 fell 0.4 percent to 2,652.01, with health care and materials as the worst-performing sectors. The Nasdaq composite declined 0.3 percent to 6,856.53.

Lawmakers Senators Marco Rubio and Mike Lee recently said that they would not vote on the bill without changes to child tax credits. Congressional Republicans had reached a deal on final tax legislation on Wednesday.

Equity investors worry that stocks could drop if the bill, which includes reducing corporate taxes, fails.

Healthcare stocks were the biggest decliners, with a 1.1 percent fall. The sector pared nearly all of its gains from the last three days in Thursday's move.

All the S&P sectors except tech and consumer discretionary were in negative territory. The consumer sector rose 0.28 percent after solid November data and merger news.

Disney announced it will pay $52.4 billion in stock to purchase Fox's movie studios, network Nat Geo, and Asian pay-TV operator Star TV, among other assets. Shares of Disney rose 2.8 percent, while Fox shares jumped almost 6.5 percent. Other media stocks like Netflix and Comcast also advanced.