Traders have been encouraged by announcements about possible progress toward a coronavirus vaccine. But growing infection numbers in the United States and Europe has raised the threat of renewed restrictions on business and movement."The reality of rising COVID-19 cases got hold of financial markets," said Mizuho Bank in a report.
On Wall Street, the benchmark S&P 500 fell 0.5% from a record to 3,609.53 after data showed U.S. retail sales rose 0.3% in October, down from September's 1.6%. The figure fell short of forecasts for 0.5% growth. Powell warned the "next few months may be very challenging." He said the Fed is committed to supporting a recovery.
"The concern is that people will lose confidence in efforts to control the pandemic," said the Fed's Powell. "We're seeing signs of that already."
Hmmmmmmmm
It's almost as if the Asians know what they are doing! No?
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