11/25/2020, 10:00 PM (Source: TeleTrader)
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US ends mostly lower with data, COVID in focus

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.

Breaking the News / GA