Stocks fall on Wall Street as hopes for new economic aid fade

  • 📰 latimes
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 82%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Stocks gave up some of their recent gains Monday as hopes faded on Wall Street that Washington will come through with badly needed aid for the economy before election day.

The Standard & Poor’s 500 index dropped 1.6%, its worst day in more than three weeks. The benchmark index had been up 0.5% in the early going following a report that China’s economy grew at a 5% annual rate in the last quarter. The market’s slide was broad, though technology, healthcare and communication stocks bore the brunt of the selling. Treasury yields were mixed.

Uncertainty over when more aid for the economy may arrive, signs new coronavirus infections are surging and the upcoming election will likely make for a volatile few weeks, analysts say.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, falling 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 last 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.

AMC Entertainment was among the few gainers Monday. Its shares jumped 16.4% after the movie theater chain said it plans to resume operations in theaters in New York State later this week.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks fall on Wall Street as hopes fade for new coronavirus virus stimulus aid📉 Stocks gave up some of their recent gains Monday as Wall Street's hopes that Washington will come through with badly needed aid for the economy before Election Day faded. election2020 dowjones stockmarket
Source: USATODAY - 🏆 100. / 63 Read more »

Wall Street debates whether the sports betting market will be big enough to support the stocksNew for subscribers: Wall Street debates whether the sports betting market will be big enough to support the stocks Check out CNBCPro today. Pro WHY do LITTLE CHINESE GIRLS......RUN in TERROR when they see HUNTER? Pro I am trying to help my kids, everyone and the economy at the same time. As a researcher I have a deep passion for education, even though I have dyslexia and didn't do good in school myself🤦‍♂️ 🤔Education and upskill retaining, should be the 1 priority for our economic recovery. Pro Micro-credentials are being used everywhere now, they are the tools that companies are going to, so people looking for work or employees wanting to advance, can properly present their skills to employers.
Source: CNBC - 🏆 12. / 72 Read more »

Cinema Stocks Rise as Wall Street Reacts to New York Reopening PlanMovie theater stocks rose in Monday pre-market trading as Wall Street weighed in on the weekend news that New York cinemas outside of New York City will be allowed to reopen at limited capacity. 'This represents a more meaningful move toward reopening.' It’s too late. cuomokilledthemoviestar. Even the School of Visual Arts Theatre in Manhattan?
Source: THR - 🏆 411. / 53 Read more »

Wall Street’s top analysts are betting on stocks like Apple and Snap this earnings seasonTipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, like Snap and Apple Been on that $SNAP game, the boomers are clueless wow No problem without a solution. Great spiritual seer, for your health problems, finances, loves, children, sports, sexual weaknesses, lawsuits, return of the loved one, peace in the home, spell ... ect, contact to be answered. Whatsapp: +33755410995
Source: CNBC - 🏆 12. / 72 Read more »