Shares of retailers and other consumer companies fell as investors grew nervous about the prospects for a stimulus deal ahead of the U.S. election.
While the U.S. economy is rebounding faster than anticipated from the initial impact of Covid-19, Federal Reserve Vice Chairman Richard Clarida said "additional support from monetary -- and likely fiscal -- policy will be needed," as reported earlier.
Retail and services businesses are among those still feeling the impact of changing consumer behavior. RSM US chief economist Joe Brusuelas expects retail sales to increase just 0.5% this holiday season, partly because Congress hasn't passed a new stimulus package, as reported earlier.
Global airline capacity stands at 56.6 million seats this week, roughly half as the level as the same week last year, according to travel-data provider OAG.
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(END) Dow Jones Newswires
October 19, 2020 17:13 ET (21:13 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.