Xinhua
21 Nov 2020, 03:48 GMT+10
NEW YORK, Nov. 20 (Xinhua) -- U.S. stocks slipped on Friday as investors grew concerned over the nation's soaring COVID-19 infections.
The Dow Jones Industrial Average fell 219.75 points, or 0.75 percent, to end at 29,263.48. The S&P 500 decreased 24.33 points, or 0.68 percent, to 3,557.54. The Nasdaq Composite Index was down 49.74 points, or 0.42 percent, to 11,854.97.
Ten of the 11 primary S&P 500 sectors pulled back, with technology down 1.05 percent, leading the laggards. Utilities rose 0.05 percent, the lone gaining group.
U.S.-listed Chinese companies traded mostly higher, with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.
Investors were worried that a continued spike in U.S. coronavirus cases could threaten the economic recovery.
The United States logged a record of 187,833 new cases on Thursday, pushing the national seven-day average of daily new infections to 165,029, about 24 percent higher than a week ago, according to a CNBC analysis of data compiled by Johns Hopkins University.
The country has reported more than 11.8 million cases in total with the death toll from the disease exceeding 253,000 as of Friday afternoon.
Wall Street also focused on a disagreement between the U.S. Treasury Department and the Federal Reserve over the continuation of funding for some of the emergency programs established during the early days of the coronavirus crisis.
U.S. Treasury Secretary Steven Mnuchin on Thursday asked the Federal Reserve to end five emergency COVID-19 lending facilities and return 455 billion U.S. dollars of unused funds. However, the Fed wanted to continue all these emergency facilities.
Get a daily dose of Breaking Property News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Breaking Property News.
More InformationBASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...
Nurse Admits Amputating Man's Leg Without Permission UK Crime
North Carolina Sheriff Retires Amid Sexual Misconduct Charges Latest News
Detroit-Area McDonald's Employee Kills Co-Worker After Argument Latest News
Ex-NBA Player Ben McLemore Sentenced To Prison For Rape Latest News
Too far? Sunrise weatherman Sam Mac shocks co-host Natalie Barr in a VERY awkward exchange
UK Housebuilders Offer 100m To Settle CMA Probe Into Information Sharing