With no stimulus in sight, US stocks close lower | Malay Mail

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NEW YORK, Oct 22 — Wall Street indices ended in the red yesterday as investors soured on the ongoing wait for fiscal stimulus from Congress, as another trading session passed without significant progress in negotiations. The benchmark Dow Jones Industrial Average was down 0.4 per cent to...

Wall Street indices ended in the red yesterday. — AFP pic

The benchmark Dow Jones Industrial Average was down 0.4 per cent to 28,210.82 at the close, while the tech-rich Nasdaq lost 0.3 per cent to finish at 11,484.70.Traders have waited months for lawmakers in Washington to agree on another spending bill to help the United States recover from the tens of millions of job losses and sharp GDP contraction caused by the coronavirus pandemic.

But no breakthrough was achieved by the closing bell, again raising the likelihood of a deal not being reached before the November 3 presidential election in which polls show Trump behind his challenger Joe Biden. “Even though a deal could soon emerge from the House of Representatives, we think it will not end up being approved by the Senate,” adding rising Covid-19 infections are also making traders nervous.

 

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