US Stocks Sell Off As COVID-19 Relief Talks Stall, Nasdaq Down Almost 2%

NEW YORK (Pakistan Point News / Sputnik - 10th December, 2020) � Wall Street's three key equity indexes fell on Wednesday, with technology barometer Nasdaq leading losses with a nearly 2 percent drop after talks for a novel coronavirus relief package stalled again in Congress.

The Nasdaq Composite Index, which counts on the performance of US tech stock giants such as Facebook, Apple, Amazon, Netflix and Google, slid 1.9 percent to conclude the day's trade at 12,339. It earlier hit a record high of 12,607, extending a rally in place since Nov. 19.

The S&P 500, a barometer for the top 500 US stocks on the New York Stock Exchange, slid 0.8 percent to finish at 3,673, after setting an all-time high of 3,712 earlier.

The Dow Jones Industrial Average, Wall Street's broadest stocks gauge, finished down 0.4 percent to close at 30,069, after a record high at 30,320.

Stocks tumbled as Democrats and Republicans failed on Wednesday afternoon to resolve a range of issues preventing an agreement to move forward with a $908 billion relief bill.