Business
Wall Street slides lower as Mnuchin says stimulus difficult before election – Sydney Morning Herald
The downbeat comments added to the fragile sentiment following a mixed bag of quarterly earnings reports from major Wall Street lenders.
US stocks had rallied in recent sessions on optimism that the government would provide a fresh stimulus to reduce damage caused by the coronavirus pandemic.
Optimism took hold like a rocket last week and now its coming back down to earth a little bit, said Mike Zigmont, head of trading and research at Harvest Volatility Management in New York. “I think a stimulus as a large macro event is already baked into stock prices. It’s just a question of when the details emerge and when the stimulus goes…
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