The Russell 2000 of small companies logged a steeper decline, losing 1.9%.
Stocks lost some momentum after Senate Majority Leader Mitch McConnell blocked an effort by Democrats to hold a vote on sending bigger stimulus checks to many Americans.
Much of the latest leg of the market’s rally has been driven by U.S. lawmakers’ efforts to pass a second stimulus package to help the economy. Trading volumes are also typically thinner in the final days of the year with many people on vacation, which can potentially amplify market moves. Advertisement
The House of Representatives on Monday approved a bill proposing to increase the size of stimulus checks to $2,000 from $600, though the bill’s fate remains uncertain in the Senate. Without committing to hold a vote, Mr. McConnell said Tuesday that the Senate would later address
The House of Representatives on Monday passed a measure to increase stimulus checks for Americans under a certain income level to $2,000 after President Donald Trump championed the effort, sending the bill to the Senate where its future is less certain.
House members voted 322-87 on Monday to override the veto, well above the two-thirds needed to override.
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| A+A A- By Associated Press
WASHINGTON: The Democratic-controlled House voted overwhelmingly to override President Donald Trump’s veto of a defense policy bill, setting the stage for what would be the first veto override of his presidency.
House members voted 322-87 on Monday to override the veto, well above the two-thirds needed to override. The Senate, which is expected to vote on the override this week, also needs to approve it by a two-thirds majority.
Trump rejected the defense bill last week, saying it failed to limit social media companies he claims were biased against him during his failed reelection campaign. Trump also opposes language that allows for the renaming of military bases that honor Confederate leaders.