NEW YORK, Sept 9 — Wall Street ended lower on Wednesday, spooked by worries that the Delta coronavirus variant could blunt the economy’s recovery and on uncertainty about when the Federal Reserve may pull back its accommodative policies.
The US economy “downshifted slightly” in August as concerns grew over how the renewed surge of coronavirus cases would affect the economic recovery, the Fed said on Wednesday in its latest Beige Book compendium of anecdotal reports about the economy. St. Louis Federal Reserve Bank President James Bullard told the Financial Times that the Fed should move forward with a plan to trim its pandemic stimulus program despite a slowdown in job growth.
Cryptocurrency exchange Coinbase Global Inc fell 3.2 per cent after the US securities regulator threatened to sue the firm if it goes ahead with plans to launch a crypto lending scheme.
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