U.S. Stocks Fall for Fourth Day; Dollar Weakens: Markets Wrap
- Bipartisan $908 billion U.S. relief bill to be unveiled Monday
- First Covid-19 shots administered in the U.S. on Monday
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U.S. stocks fell for a fourth day as investors assessed the prospects for a federal spending package and the likelihood for further virus-related economic restrictions.
The S&P 500 Index capped its longest slide since September and is 1.5% below its Dec. 8 record. Drugmakers les the Nasdaq 100 Index higher after Alexion Pharmaceuticals Inc. agreed to be bought by AstraZeneca Plc. Energy producers tumbled after after OPEC cut its demand forecast. Oil was lower most of the day before reversing. The dollar extended its slump with Treasuries. Brazil’s Ibovespa Index erased losses for the year.