Near-term rebound could be ahead according to strategists.
In rare setback, the proposed legislation was rejected in a split vote over holdouts' demands on Medicaid, clean energy tax credits, and polarizing SALT deductions.
The greenback's wild slide has continued as erratic US policymaking spurs a "love-hate" relationship with international investors.
Easing trade tensions continue to boost market.
Uncertainty looks set to be here for some time, Atlanta Fed president warns.
Analysts, investors believe trade barriers will return after pause.
Global supply glut outlook slashed by major producer.
The Republican leader balked at calls to raise the tax deduction, which has been one of the stickiest wickets blocking President Donald Trump's legislative agenda.
Past changes to the Federal Reserve's longer-run strategy, including letting inflation run hotter than 2% for "some time," might no longer work for the current economy.
Oil is also lower Thursday as investors take a breath.
