Stocks slip on Wall Street over coronavirus stimulus delays

U.S. stocks capped another wobbly day of trading with modest losses Wednesday as Wall Street waited for any sign of progress as lawmakers in Washington negotiate over how to deliver more aid for the economy.

The S&P 500 fell 7.56 points to 3,435.56. The Dow Jones industrial average lost 97.97 points, or 0.4%, to 28,210.82. The index had briefly been up 141 points. The Nasdaq composite gave up 31.80 points, or 0.3%, to 11,484.69.Stocks of social media companies were among the biggest gainers after Snap reported even bigger jumps in revenue and in the number of people using its Snapchat service each day than analysts expected.

On the losing end was Netflix, which fell 6.9% for one of the largest losses in the S&P 500 after it said growth in its subscriber rolls slumped by more during the summer than it had forecast. It also reported a weaker quarterly profit than analysts expected, following a surge earlier this year when people were yearning for things to watch amid coronavirus-caused lockdowns.It’s a rare disappointing report in what has been a much better earnings season than Wall Street had feared.

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