BUSINESS US stocks fall as Wall Street awaits presidential debate

BUSINESS

US stocks fall as Wall Street awaits presidential debate

Xinhua

07:47, September 30, 2020

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File photo: AFP

NEW YORK, Sept. 29 (Xinhua) -- Wall Street's major averages finished lower on Tuesday as investors awaited a U.S. presidential debate.

The Dow Jones Industrial Average decreased 131.40 points, or 0.48 percent, to 27,452.66. The S&P 500 fell 16.13 points, or 0.48 percent, to 3,335.47. The Nasdaq Composite Index dipped 32.28 points, or 0.29 percent, to 11,085.25.

Ten of the 11 primary S&P 500 sectors ended in negative territory, with energy down 2.73 percent, leading the decliners. Communication services rose 0.28 percent, the lone gaining group.

U.S.-listed Chinese companies traded mostly lower, with eight of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Wall Street looked ahead to the first debate between President Donald Trump and his Democratic challenger, former Vice President Joe Biden, scheduled for Tuesday night.

Investors also paid close attention to the update of a fresh U.S. coronavirus aid package.

Democrats from the U.S. House of Representatives unveiled on Monday a 2.2-trillion-U.S.-dollar COVID-19 relief package, attempting to pressure the White House and Republicans to reach a deal before the presidential election in November.

More than 7.18 million confirmed COVID-19 cases have been reported in the United States with deaths surpassing 205,700 as of Tuesday afternoon, according to a tally by Johns Hopkins University.

On the data front, U.S. Consumer Confidence Index stood at 101.8 in September, up from 86.3 in August, New York-based The Conference Board reported on Tuesday.

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