Stocks fall on Wall Street as hopes fade for new coronavirus virus stimulus aid

The S&P 500 fell 56.89 points to 3,426.92. The Dow Jones Industrial Average of big blue chips dropped 410.89 points, or 1.4%, to 28,195.42. The Nasdaq composite extended its losing streak to a fifth day, losing 192.67 points, or 1.7%, to 11,478.88.

Stocks have been mostly pushing higher this month after giving back some of their big gains this year in a sudden September swoon. The benchmark S&P 500 has notched a gain in each of the past three weeks. Even so, trading often has been choppy from one day to the next, reflecting uncertainty over the timing of more stimulus for the economy, something investors have been hoping for since July, when a supplemental $600-a-week unemployment benefit package ran out.

Pelosi and Treasury Secretary Steven Mnuchin spoke Monday and are due to resume talks Tuesday, Pelosi spokesman Drew Hammill tweeted after the end of regular trading. Across the S&P 500, analysts are expecting companies to report another drop in profits for the summer from year-ago levels. But they’re forecasting the decline to moderate from the nearly 32% plunge from the spring as the economy has shown signs of improvement.

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