Wall Street Closes in Red on Negative Forecasts

The main indices of Wall Street closed lower on Wednesday, due to mixed financial results by big banks, and worries about the second wave of the Coronavirus (COVID-19) pandemic.

In addition, hopes for a new stimulus package were subdued after remarks by the US Treasury Secretary suggested that a new deal is unlikely before the elections on November 3.

Meanwhile, a recent report by the International Energy Agency (IEA) expressed concerns about the recovery of global demand amid a second wave of the pandemic.

The Dow Jones Industrial Average lost around 166 points, or 0.58%, to close at 28,514 points.

The S&P 500 index fell by 23.26 points, or 0.66%, and settled at 3,488.67 points.

Meanwhile, the Nasdaq Composite declined by 95.17 points, or 0.80%, and finished at 11,768.73 points.