Saturday, 12 December 2020

Markets fall, no progress on US fiscal stimulus and Brexit trade deal

Markets fell on Friday.

The S&P 500 fell 0.1 percent, the STOXX Europe 600 fell 0.8 percent and the Nikkei 225 fell 0.4 percent.

US fiscal stimulus talks ended on Thursday without showing signs of progress towards an agreement.

“Optimism surrounding a near-term fiscal stimulus deal are fading despite reports of a bipartisan deal, as the sides can agree on the size of a deal, but not the details,” wrote Mark Hackett, chief of investment research at Nationwide.

Meanwhile, in Europe, Brexit trade negotiations also show no sign of progress.

“Time is running out and we need to prepare for a hard Brexit,” said Italian Prime Minister Giuseppe Conte.

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