NEW YORK - Wall Street lost ground on Tuesday , with halted Covid-19 vaccine trials and an elusive US stimulus agreement weighing on sentiment as third quarter earnings season got underway.
Late in the session, rival Eli Lilly & Co said it was also halting its coronavirus antibody trial because of safety concerns, sending its shares down 2.9%. Senate Majority Leader Mitch McConnell said the Republican-led Senate would vote on a targeted pared-down stimulus package on Monday. The broader S&P Banking index lost 2.7% Apple Inc unveiled the latest incarnation of its flagship gadget, the iPhone 12 with 5G connectivity. Its shares were down 2.7%.
Other earnings on tap this week include Bank of America Corp , Goldman Sachs Group Inc, Wells Fargo & Co, UnitedHealth Group and United Airlines Holdings Inc expected on Wednesday, with Morgan Stanley and Honeywell International Inc due on Thursday.
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