Stocks Tumble, Rebound After Flynn Guilty Plea

Stocks are closing modestly lower, having recouped much of a steep loss from earlier in the day after a former adviser to the White House pleaded guilty to lying to the FBI, the AP reports. News that former national security adviser Michael Flynn would cooperate with the probe into Russian meddling in the US presidential election initially sent the market stumbling, but investors were encouraged after Senate Republicans signaled they have enough votes to push forward on a tax overhaul bill. Technology and industrial stocks accounted for much of the decline. Energy companies led the gainers.

The Standard & Poor's 500 index 5 points, or 0.2%, to 2,641. The Dow Jones industrials lost 40 points, or 0.2%, to 24,231. The Nasdaq composite gave back 26 points, or 0.4%, to 6,847.

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