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Stocks Slip As Virus Restrictions Tighten; Sterling Weakens

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NEW YORK: Stocks on international indexes principally eased on Monday as worries escalated over rising COVID-19Stocks Slip As Virus Restrictions Tighten; Sterling Weakens instances and financial restrictions, whereas sterling slumped as Britain and the European Union have but to slim their variations on a commerce deal.

On Wall Street, the U.S. benchmark S&P 500 slipped 0.2%, retreating from its latest report excessive, however the Nasdaq posted a report closing excessive as buyers snapped up mega-cap development shares.

Authorities in California, probably the most populous U.S. state, on Monday compelled a lot of the state to shut store and keep at residence the day after it reported a report 30,000-plus new coronavirusStocks Slip As Virus Restrictions Tighten; Sterling Weakens instances.

Investor eyes additionally proceed to be on negotiations between Republicans and Democrats within the U.S. Congress for approval of additional coronavirusStocks Slip As Virus Restrictions Tighten; Sterling Weakens aid.

“It is just kind of a waiting game, we are waiting to see if there is going to be any stimulus attached to this funding bill,” mentioned Ross Mayfield, funding technique analyst at Baird.

Expectations of a U.S. stimulus assist package deal gathered tempo after weak payrolls knowledge on Friday.

The Dow Jones Industrial Average fell 148.47 factors, or 0.49%, to 30,069.79, the S&P 500 misplaced 7.16 factors, or 0.19%, to three,691.96 and the Nasdaq Composite added 55.71 factors, or 0.45%, to 12,519.95.

Large-cap development shares, which had underperformed worth shares in latest weeks as buyers appeared to names prone to profit from a reopened economic system, edged up whereas worth declined.

The MSCI world fairness index , which tracks shares in 49 international locations, was down 0.1%, whereas the pan-European STOXX 600 index ended down 0.3%.

British and EU leaders will meet face-to-face to attempt to seal a post-Brexit commerce deal after failing once more to slim their variations on Monday.

That might increase the possibility of a disorderly parting of the way on the finish of the month.

Sterling fell in a sentiment reversal from Friday when the British foreign money rose to a 19-month excessive in opposition to the greenback.

Sterling was final buying and selling at $1.34, down 0.51% on the day.

Investors additionally await an EU summit beginning on Thursday to interrupt an deadlock over a 1.eight trillion-euro coronavirusStocks Slip As Virus Restrictions Tighten; Sterling Weakens assist package deal, in addition to the final European Central Bank coverage assembly of the 12 months on the identical day.

In the bond market, yields on most U.S. Treasuries fell as rising coronavirusStocks Slip As Virus Restrictions Tighten; Sterling Weakens caseloads drove buyers to purchase the safe-haven securities.

Benchmark 10-year notes final rose 13/32 in worth to yield 0.93%, from 0.97% late on Friday.

Oil costs slipped, with merchants weighing the optimistic influence from an OPEC+ deal on manufacturing in opposition to rising coronavirusStocks Slip As Virus Restrictions Tighten; Sterling Weakens instances.

Brent crude fell 46 cents, or 0.9%, to settle at $48.79 a barrel. U.S. crude fell 50 cents, or 1.1%, to settle at $45.76 a barrel. Spot gold costs gained.

Disclaimer: This put up has been auto-published from an company feed with none modifications to the textual content and has not been reviewed by an editor

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