Stocks Slump as Traders Weigh Outlook for Stimulus: Markets Wrap
- Banks lead Europe stocks lower; crude falls below $40 a barrel
- Global Covid-19 deaths hit 1 million; positivity climbs in NYC
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The end-of-month rebound in global equities faded as investors weighed prospects for fiscal stimulus in the U.S. and the outlook for the coronavirus pandemic. Oil tumbled on concern slow growth will limit demand.
The S&P 500 Index slumped, with more than two stocks falling for every one that advanced, after talks on expanding aid ended for the day with plans to resume discussions tomorrow. An exchange-traded fund that tracks the S&P 500 gained 0.2% in after-hours trading after a study showed a Regeneron Pharmaceuticals Inc. antibody cocktail may help treat coronavirus patients outside of the hospital.