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Stocks whipsaw after Trumpcare fail

Traders work on the Mizuho Americas trading floor in New York. (Mark Lennihan/AP)

Markets took a turn for the worse Friday afternoon after it became increasingly clear that the House would not pass healthcare legislation. Late in trading, however, markets recovered most of those losses. The Dow closed down 0.28%, while the S&P 500 ended the day falling 0.08%.

Data: Money.net; Chart: Andrew Witherspoon / Axios

Why it matters: Some investors are concerned that the lack of Republican unity on display will imperil policy— like tax cuts and infrastructure spending—that is especially important to corporate profits.