US STOCKS-Wall St futures dip as Mnuchin pulls plug on lending programs
U.S. stock market futures dropped late on Thursday after Treasury Secretary Steven Mnuchin pulled the plug on some of the Federal Reserve' pandemic emergency lending programs. S&P 500 emini futures dropped 0.75% after Mnuchin asked the central bank to return money earmarked under the March pandemic relief act for emergency lending to businesses, nonprofits and local governments, marking an end on Dec. 31 to most of the crisis-response programs the Federal Reserve has deemed vital to keeping the economy stable. Earlier, U.S. stocks ended in positive territory after fresh stimulus hopes buoyed investor sentiment in a session fraught with worries over mounting shutdowns and layoffs linked to spiraling COVID-19 infection rates.
Published:11/19/2020 5:57:15 PM