U.S. stocks ended sharply lower Monday as investors focused on House Speaker Nancy Pelosi's self-imposed Tuesday deadline to achieve a coronavirus relief package for American businesses and workers.
U.S. stocks ended sharply lower Monday as investors focused on House Speaker Nancy Pelosi's self-imposed Tuesday deadline to achieve a coronavirus relief package for American businesses and workers. Markets had started off the session with some optimism that Pelosi, D-Calif., would be able to make progress toward the framework toward an additional deal on aid but mounting concerns that a fiscal package won't be produced before the Nov.
3 presidential elections is beginning to cause increased jitters for a market that believes that more funding is necessary to support further gains in the virus-stricken market. The Dow Jones Industrial Average closed off 410 points, or 1.4%, the S&P 500 index SPX, -1.63% closed off 1.6% at 3,427, led by energy XLE, -2.12%, technology XLK, -1.83% and communication services XLC, -1.79%, while the Nasdaq Composite Index COMP, -1.65% closed off 1.7% lower at 11,479.
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