NEW YORK - Wall Street's main indexes closed lower on Monday as Washington lawmakers still appeared to struggle to reach an agreement on coronavirus stimulus ahead of a Tuesday deadline that would make a relief package possible ahead of the the Nov 3 elections.
"The lack of news on stimulus is worrisome compounded by worsening virus trends and uncertainty ahead of the elections,"said Mona Mahajan, US Investment Strategist, Allianz Global Investors, New York. The number of new Covid-19 cases in the United States last week rose 13 per cent to more than 393,000, approaching levels last seen during a summer peak, according to a Reuters analysis.
Nearly 30 million Americans have cast early ballots, shattering records as voters adjust to the coronavirus pandemic, including in Florida, battleground state that on Monday opened polls to early voting. The Dow Jones Transport Average reversed course late in the afternoon after making gains earlier on Monday when the US Transportation Security Administration said it screened more than 1 million airline passengers on Sunday for the first time since mid-March.
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