After shutting down negotiations over a new COVID-19 stimulus package, President Trump said he would pass a standalone bill for $1,200 stimulus checks.
Banks and technology companies led a broad slide for stocks on Wall Street Tuesday, snapping the market’s four-day winning streak.
The S&P 500 lost 0.6%, giving back some of its gains from a day earlier. The pullback in stocks comes as many forces are pushing and pulling on markets simultaneously. Coronavirus counts are rising at a worrying degree in many countries around the world, and Johnson & Johnson said late Monday it had to temporarily pause a late-stage study of a potential COVID-19 vaccine “due to an unexplained illness in a study participant.”
Meanwhile, uncertainty about the prospects for more stimulus