US STOCKS-Wall Street closes lower on fears of a slowing economy

Wall Street’s main indexes fell sharply on Wednesday after data showing a cooling of U.S. business activity and the stalemate in Congress over more fiscal stimulus heightened concerns about the economy while the coronavirus pandemic remains unchecked. The Nasdaq and S&P 500 fell more than 2%, and all 11 of the major S&P sectors closed lower. The economy is leveling off at about 80% of activity before the pandemic and won’t get back to normal until a vaccine is in place, said Jason Pride, chief investment officer of private wealth at Glenmede in Philadelphia.


Continue Reading

HEDGE accordingly