October 15, 2020

CNBC: Stocks close lower for a third day amid concern over U.S. stimulus, Europe coronavirus spike

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https://www.cnbc.com/2020/10/14/stock-market-futures-open-to-close-news.html

Stocks close lower for a third day amid concern over U.S. stimulus, Europe coronavirus spike

2020-10-14 00:00:00, Fred Imbert, CNBC

Content Categorization
/Business & Industrial
/News/Business News

Word Count:
675

Words/Sentence:
20

Reading Time:
4.50 min

Reading Quality:
Adept

Readability:
13th to 15th

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Stocks fell for a third day in a row on Thursday as hope for a U.S. coronavirus stimulus deal continues to decrease while infections across Europe are on the rise.

Treasury Secretary Steven Mnuchin told CNBC's "Squawk Box" that he and President Donald Trump are committed to getting a stimulus deal done and that while it will be hard to get one done before the election, they will keep trying.

The uncertainty over new U.S. fiscal aid and disappointing economic data, along with the spike in coronavirus cases in Europe, came as investors waded through a slew of corporate earnings results.

Meanwhile, The Financial Times reported that France and the Netherlands are endorsing a plan for the European Union to curb the power of Big Tech, including by possibly breaking companies up.

Facebook led most of Big Tech lower, falling 1.9% amid rising regulatory concerns.

Keywords
Goldman Sachs Group Inc, Morgan Stanley, Wall Street, Investment strategy, business news, Steven Mnuchin, S&P 500 Index, Stock markets, Walgreens Boots Alliance Inc, United Airlines Holdings Inc, Breaking News: Markets, United States, Bank of America Corp, Dow Jones Industrial Average, Wells Fargo & Co, Markets, NASDAQ Composite

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