Investors also trod warily as they weighed distant hopes of a long-term recovery against immediate worries over Covid-19 infection rates and mutations. — Reuters pic
“Markets are on the slide as ongoing economic struggles overshadow the potential for near-term stimulus,” said Joshua Mahony, senior market analyst at trading firm IG. Later Wednesday, investors will closely follow Fed Chair Jerome Powell’s press conference for clues on the outlook for US monetary policy.
“Unfortunately, with Biden expected to drive forth his $1.9 trillion stimulus coronavirus support package, we are unlikely to see the Fed turn up the dials at today’s meeting.”
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