United States and European stock markets were mostly lower on Monday, October 19, as a technical hiccup hit Paris and investors saw dwindling chances of a US stimulus package., Euronext annulled all trades after 5:30 pm , meaning the Paris benchmark CAC 40 index closed 0.14% higher, rather than 0.1% lower as originally calculated.
Frankfurt slipped by 0.4%, and London lost 0.6% as sterling rose, which weighs on the share prices of multinationals earning in dollars.Investors remained focused on the chances for more US fiscal stimulus ahead of the November 3 presidential election as President Donald Trump trails far behind his Democratic challenger, former vice president Joe Biden.
"As time goes on, it's less and less likely that we get the stimulus package before the election," Sam Stovall, chief investment strategist at CFRA Research, told Agence France-Presse .Trump has proposed a $1.8-trillion package and indicated he would go higher, while Democrats in the House of Representatives have approved a $2.2-trillion measure.
Pelosi and Mnuchin spoke again on Monday and"continued to narrow their differences," Pelosi spokesman Drew Hammill said after markets closed.