But stocks benefited from expectations Washington will produce another package of fiscal support for the coronavirus-battered US economy. Key lawmakers have signaled progress on the talks, but have yet to resolve partisan disagreements.
That announcement came after Novavax announced positive clinical results of another vaccine candidate, boosting shares by more than 10 per cent. However, investors focused on strong results at its Disney+ streaming service, which already has more than 100 million paid subscribers.
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