A sign hangs in front of US flags outside of the New York Stock Exchange in New York September 1, 2015. — Reuters pic
But equities moved well off lows that saw the S&P 500 down as much as 0.75 per cent after US Treasury Secretary Steven Mnuchin said talks between Republican and Democratic senators on Covid-19 relief were making “a lot of progress” with more discussions expected in the day. The Dow Jones Industrial Average fell 69.55 points, or 0.23 per cent, to 29,999.26, the S&P 500 lost 4.72 points, or 0.13 per cent, to 3,668.1 and the Nasdaq Composite added 66.86 points, or 0.54 per cent, to 12,405.81.
The faltering labor market recovery and the recent surge in Covid-19 infections have piled pressure on policymakers to come up with another rescue package, as most of the government financial aid for Americans and businesses has dried up.