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US stocks fall amid concerns about coronavirus

New York, November 20 (Xinhua)-US stocks fell on Friday as investors heightened concerns about the country’s surge in COVID-19 infection.

The Dow Jones Industrial Average fell 219.75 points (0.75%) to finish at 29,263.48. The S & P 500 fell 24.33 points (0.68%) to 3,557.54. The Nasdaq Composite Index fell 49.74 points (0.42%) to 11,854.97.

Ten of the 11 major S & P 500 sectors have receded, and technology has fallen 1.05%, lagging behind. Utilities are the only profitable group, up 0.05%.

Among the US-listed Chinese companies, 6 of the top 10 stocks by weight of the S & P US-listed China 50 Index performed well, and most of them traded at high prices.

Investors were concerned that the continued surge in US coronavirus cases could threaten economic recovery.

According to a CNBC analysis of data compiled by Johns Hopkins University, the United States recorded a record of 187,833 new cases on Thursday, pushing the national average of new infections per day to 165,029. This is about 24% higher than it was a week ago.

As of Friday afternoon, the country reported a total of more than 11.8 million deaths from more than 253,000 illnesses.

Wall Street also focused on the disagreement between the US Treasury and the Federal Reserve over the continued funding of several emergency programs established early in the coronavirus crisis.

US Treasury Secretary Steven Mnuchin called on the Federal Reserve Board to close five emergency COVID-19 lending facilities and return US $ 455 billion of unused funds on Thursday. However, the Fed wanted to continue with all these emergency facilities.

US stocks fall amid concerns about coronavirus

Source link US stocks fall amid concerns about coronavirus

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