AP Business Writers
Stocks closed modestly lower on Wall Street Tuesday as investors turned cautious a day after major indexes closed at their latest record highs.
The S&P 500 slipped 0.2%, the benchmark index’s first decline in four days. Investors shifted money away from technology companies, which have been among of the biggest winners since the pandemic began. Industrial and financial stocks also fell broadly. Those losses outweighed gains in health care stocks and companies that rely on consumer spending.
Small-company stocks, which have been the biggest gainers this month, fell more than the rest of the market, pulling the Russell 2000 index of smaller companies 1.8% lower. The index is still on track to end the month 7.7% higher, more than twice as much as the S&P 500.
Republican Sen. Josh Hawley of Missouri announced on Wednesday that he plans to object during Congress’ meeting to certify Electoral College votes next week in order to highlight unfounded claims of widespread voter fraud and the role of “Big Tech monopolies” in the election. The move will delay the final confirmation of President-elect Joe Biden’s victory by forcing lawmakers in both chambers of Congress to debate and then vote on the objection. “At the very least, Congress should investigate allegations of voter fraud and adopt measures to secure the integrity of our elections,” the senator said in a statement. “But Congress has so far failed to act.”
Coronavirus in the world. Photo by Facebook
While Ukrainian immunologists are talking about when the spread of coronavirus infection in Ukraine will decline, doctors and politicians in different regions of the planet are taking both concrete measures to counter the pandemic and making rather disappointing predictions about the next attacks on humanity of deadly diseases.
The US House passed a bill on Monday that would boost stimulus payments to $2,000, and Senate Democrats are now pushing for a vote on the measure. Senate Majority Leader Mitch McConnell (R-Ky.) on Tuesday morning blocked Democrats’ attempt to consider the bill, but a growing number of Republicans support it, including Georgia Sens, the washingtonpost.com informed.
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Increased stimulus checks remain in limbo in the Senate, where lawmakers are gathering Wednesday to begin the process of overriding President Trump’s veto of a critical defense bill.
Senate Majority Leader Mitch McConnell on Tuesday blocked quick consideration of a House-passed bill to boost a new round of checks from $600 to $2,000 per individual.
Instead, he proposed a measure that would combine the House bill with provisions Trump has been seeking to repeal a Big Tech lawsuit liability shield and to create a commission to study the integrity of federal elections.
Democrats consider the additional provisions “poison pills” and will not back this bundled legislation, so it’s not expected to pass this week or by the end of the 116th Congress, which expires at 11:59 a.m. on Jan. 3.
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