Wall Street Open Sharply Lower On Downbeat Stimulus Talks
Faizan Hashmi 1 month ago Mon 26th October 2020 | 08:00 PM
New York, (UrduPoint / Pakistan Point News - 26th Oct, 2020 ) :Downbeat comments from a White House official on the prospects of a new fiscal stimulus package for the US economy sent stocks trading much lower at the open on Monday.
About 30 minutes into trading, the Dow Jones Industrial Average was down 1.4 percent at 27,941.28.
The broad-based S&P 500 fell 0.9 percent to 3,433.34, while the tech-rich Nasdaq dropped 0.2 percent to 11,524.63.
"The talks have certainly slowed down, but they're not ending," Kudlow said on CNBC, while declining to make a prediction about the prospects for an agreement.
That flew in the face of expectations on Wall Street that lawmakers would eventually overcome their differences, and the nationwide surged in new coronavirus infections also dampened sentiment.
Shares of donut giant Dunkin shots up 16 percent after confirming it was in talks on a deal to be acquired by Inspire Brands and go private.