Stocks fall, set to snap 3-day winning streak amid virus concerns; European markets close lower with Brexit and U.S. politics on the agenda; BELELX15 down 0.79% as NIS lost over 2%
Stocks fell for the first time in four days on Tuesday amid renewed concern over the coronavirus outbreak in New York City. The Dow Jones Industrial Average traded 72 points lower, or 0.3%. The S&P 500 also dipped 0.3% while the Nasdaq Composite slid 0.1%. Those losses put the major averages on pace to snap a three-day winning streak.
House Democrats unveiled a new $2.2 trillion stimulus package, smaller than the more than $3 trillion proposed earlier in the crisis but still well above what Republican leaders have offered. The new bill includes enhanced unemployment benefits and aid to airlines and state and local governments.
In economic news Tuesday, The Conference Board said consumer confidence jumped much more than expected, hitting a print of 101.8 for September. Economists polled by Dow Jones expected consumer confidence to rise to 90.1 from 86.3 in August.
European markets retreated Tuesday, pulling back from Monday’s rally with Brexit talks and the first U.S. presidential debate on investors’ radar. The pan-European Stoxx 600 closed down by 0.5%. Banks shed 2.1% while utilities bucked the broad downward trend to add 0.5%.
On the data front, final euro zone economic sentiment rose to 91.1 in September from 87.5 in August, European Commission figures showed Tuesday, while sentiment in the U.K. rose to 83.0 from 75.1.
BELELX15 was down 0.79%, since NIS lost 2.6%, with RSD 0.4m in volume. The most active name was aluminum processors, Impol Seval, with RSD 1.1m traded. We saw no specific corporate of macro events.
Source: CNBC, Ilirika