US ends mostly lower with data, COVID in focus

Wednesday, 25. November 2020 22:00

Shares on major stock markets in the United States ended Wednesday's session mostly lower with investors mainly focusing on the coronavirus pandemic and economic data signaling a pace of the recovery from the virus-caused crisis. US President-elect Joe Biden noted the country remains months away from beating the pandemic, vowing to "lead a national coordinated response" against COVID-19.

On the data front, the University of Michigan's survey showed that consumer confidence in the country dropped 6%, failing to meet estimates, while the country's economy recorded the sharpest growth on record of 33.1% in the third quarter, according to the US Bureau of Economic Analysis.

The Dow Jones lost 0.58% or more than 170 index points at the closing bell with dropping more than 5%, and the S&P 500 slipped 0.16% concurrently as Gap Inc dipped nearly 20%. The Nasdaq finished the session gaining 0.60% with Moderna surging nearly 11% at the same time. The euro advanced 0.27% against the dollar at 3:58 pm ET, changing hands for 1.19244.

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