US: Stocks retreat from records amid Covid gloom

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US: Stocks retreat from records amid Covid19 gloom

Federal Reserve Chair Jerome Powell highlighted the need for caution, noting"significant challenges and uncertainties" about the timing, production, distribution and efficacy of the vaccines.

Commerce Department data showed retail sales in October increasing by a disappointing 0.3 per cent from September. Analysts also noted that stocks have already risen significantly this month, and were due for a pause or pullback.

 

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