In contrast to last week’s trend, declines were led by value-oriented sectors such as industrials and financials as opposed to technology stocks.Analysts said the passing of U.S. Supreme Court Justice Ruth Bader Ginsburg also decreases the chances of another fiscal stimulus package to help lift the domestic economy from a deep recession.
Congress has for weeks remained deadlocked over the size and shape of a fifth coronavirus-response bill, on top of the approximately US$3 trillion already enacted into law. At 11:39 a.m. ET the Dow Jones Industrial Average was down 892.05 points, or 3.23 per cent, at 26,765.37, the S&P 500 was down 83.06 points, or 2.50 per cent, at 3,236.41 and the Nasdaq Composite was down 211.02 points, or 1.96 per cent, at 10,582.27.Article content continued
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