Stocks close slightly lower as coronavirus stimulus talks continue
Stocks fell slightly on Wednesday as House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continued their negotiations on a new fiscal stimulus package.
The Dow Jones Industrial Average slipped 97.97 points, or 0.4%, to 28,210.82. Earlier in the day, the 30-stock average traded more than 100 points higher. The S&P 500 dipped 0.2% to 3,435.56 and the Nasdaq Composite slid 0.3% to close at 11,484.69.
Pelosi said in an MSNBC interview on Wednesday she hoped both sides can resolve the “appropriations piece” of the coronavirus aid bill later in the day.
Her comments came after White House chief of staff Mark Meadows said Tuesday that Pelosi and Mnuchin have made “good progress” on stimulus talks. He added, however, that they “still have a ways to go” before an agreement is reached.
Goldman Sachs economist Alec Phillips noted that “the biggest issues remain unresolved and a deal doesn’t seem particularly close.”
Reference: CNBC
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