Wall Street closes down on soaring Covid-19 cases, US stimulus worries | Malay Mail

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NEW YORK, Oct 27 ― US stocks tumbled yesterday in thin trade, with the S&P 500 posting its biggest daily decline in four weeks, as soaring coronavirus cases and uncertainty about a fiscal relief bill in Washington dimmed the outlook for the US economic recovery. The United States, Russia and...

Tuesday, 27 Oct 2020 07:12 AM MYT

The United States, Russia and France set daily records for coronavirus infections. The number of hospitalised Americans with Covid-19 jumped to a two-month high. US House of Representatives Speaker Nancy Pelosi spoke with Treasury Secretary Steven Mnuchin about Covid-19 relief legislation. She remains optimistic an agreement can be reached before the election, a Pelosi spokesman said.

The tech sector is among the only three sectors apart from healthcare and consumer staples expected to post an increase in profit from a year earlier. Hasbro Inc tumbled 9.35 per cent as quarterly adjusted revenue fell due to coronavirus-led delays in production of movies and TV shows.

 

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