12/29/2020, 6:56 PM (Source: TeleTrader)
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US turns red as McConnell blocks $2,000 checks

Stocks on Wall Street turned negative on Tuesday after news that Senate Majority Leader Mitch McConnell blocked the approval of $2,000 stimulus checks by unanimous consent. However, Republican Senator Josh Hawley insisted there are still enough votes to pass the bill.

Earlier in the day, the Federal Reserve extended its Main Street Lending Program until January 8 after the move was approved by Treasury Secretary Steven Mnuchin.

The Dow Jones plunged 0.42% or 128 points at 12:54 pm ET, while the Nasdaq 100 slipped 0.11%. At the same time, the S&P 500 dropped 0.29%. Meanwhile, the euro gained 0.22% against the dollar to sell for 1.22402 a minute later.

Breaking the News / ND