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U.S. stocks close mixed as traders assess new coronavirus variant

NEW YORK
2020-12-22 06:08

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NEW YORK, Dec. 21 (Xinhua) -- Wall Street's major averages finished mixed on Monday as concerns over a new and more transmissible strain of COVID-19 detected in Britain overshadowed developments on U.S. fiscal stimulus.

The Dow Jones Industrial Average was up 37.40 points, or 0.12 percent, to 30,216.45. The S&P 500 fell 14.49 points, or 0.39 percent, to 3,694.92. The Nasdaq Composite Index decreased 13.12 points, or 0.10 percent, to 12,742.52.

Nine of the 11 primary S&P 500 sectors ended in red, with energy and utilities closing down 1.8 percent and 1.26 percent, respectively, leading the laggards. Financials and technology rose 1.24 percent and 0.07 percent, respectively, the only two gaining groups.

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

British Prime Minister Boris Johnson on Saturday announced stricter restrictions for London and other parts of England to combat an alarming surge in infections linked to a new virulent strain.

Travel-related stocks came under pressure as more countries announced plans to ban flights from Britain.

Wall Street also looked to updates concerning additional U.S. fiscal stimulus.

U.S. Congress reached an agreement on a long-awaited COVID-19 relief package after months of failed negotiations.

The 900-billion-U.S.-dollar relief is set to include another round of direct payments for individuals, federal unemployment benefits, and more funding for the Paycheck Protection Program to support small businesses.

For the week ending Friday, the Dow rose 0.4 percent, while the S&P 500 and the Nasdaq climbed 1.3 percent and 3.1 percent, respectively.
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