US closes lower after modest economic data

Tuesday, 17. November 2020 22:00

Major stock markets in the United States closed lower on Tuesday after the reports on the country's retail sales and industrial production in October showed rather modest results. Federal Reserve Chair Jerome Powell later noted the normalization of the national economy and debt would be discussed appropriately only when the coronavirus pandemic is over.

Meanwhile, Senate Majority Leader Mitch McConnell stated he did not expect the Democrats to agree to the Republican's plan of a stimulus, aimed at combating the crisis caused by the pandemic, worth $500 million.

The Dow Jones Industrial Average lost 0.48% or 144 points at the closing. The Nasdaq 100 fell by 0.30%. The S&P 500 dropped by 0.39%. Walgreens Boots Alliance, Inc. was the weakest performer on all three indexes, slumping 9.63% The euro gained 0.11% against the euro to sell for $1.18656 at 3:57 pm ET.

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Author:
Breaking the News / JR