Here's what happened to the stock market on Wednesday

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Renewed pressure in key tech stocks dragged down the broader market.

dipped 3.5%. Microsoft pulled back by 3.3%. Those declines added to already steep FAANGM losses for the month.Investors have faced a slew of headwinds this month, including a rising number of global coronavirus cases and uncertainty around further U.S. fiscal stimulus. Earlier this week, the U.K. said it would impose stricter measures to curb the coronavirus outbreak. To be sure, President Donald Trump said the U.S.

would not be implementing a second round of lockdowns. On the stimulus front, lawmakers are still struggling to move forward with a new package. Federal Reserve Chairman Jerome Powell told a congressional panel Wednesday that further fiscal stimulus is still needed for the U.S. economic recovery to continue.Weekly jobless claims are set for release Thursday morning along with new home sales numbers.for exclusive insights and analysis, and live business day programming from around the world.

 

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