NEW YORK (AP) U.S. stock indexes are slipping from their record levels Friday as the wait drags on to see if Congress can reach a deal to send more cash to struggling workers and businesses.
The S&P 500 was 0.5% lower in afternoon trading, a day after it and other major indexes returned to record heights. Hope that Congress may be nearing a deal to offer more financial support for the economy has helped put the S&P 500 on track for a 1.1% gain this week, which would more than make up for the prior week’s loss. So has enthusiasm about vaccines for COVID-19, which investors hope will get the economy back on the road to normalcy next year.
U.S. blacklists top Chinese chipmaker, alleging military ties By PAUL WISEMAN, AP Economics Writer
Published: December 18, 2020, 8:32am
Share: FILE - In this Tuesday, March 10, 2020, file photo, Commerce Secretary Wilbur Ross testifies before a House Appropriations subcommittee on Capitol Hill, in Washington. The Trump administration blacklisted China s top chipmaker Friday, Dec. 18, limiting the Semiconductor Manufacturing International Corporation s (SMIC) access to advanced U.S. technology because of its alleged ties to the Chinese military. We will not allow advanced U.S. technology to help build the military of an increasingly belligerent adversary, Ross said. (AP Photo/Andrew Harnik, File)
WASHINGTON The Trump administration blacklisted China’s top chipmaker Friday, limiting the Semiconductor Manufacturing International Corp.’s access to advanced U.S. technology because of its alleged ties to the Chinese military.
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U.S. stocks decline with lawmakers at odds on aid bill
Cecile Gutscher, Bloomberg News VIDEO SIGN OUT
U.S. stocks fell after Republican demands left Congress without a deal on a federal spending bill. Tesla Inc. edged higher in heavy trading ahead of its inclusion in the S&P 500.
The benchmark index halted a three-day winning streak, though ended well of session lows with a late rally in aflood of trading volume associated with the quarterly expiration of options and futures on stocks and indexes. Almost 200 million shares of Tesla traded hands, four times the 30-day average, as funds benchmarked to the S&P 500 adjusted ahead of the carmakerâs Monday debut.
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