Stocks tumbled on Monday, as traders expressed concerns on whether U.S. lawmakers would pass another fiscal stimulus bill to support the economy and as Europe put additional restrictions in place to fight the COVID-19 pandemic.
The Dow Jones Industrial Average dropped over 400 points or 1.49%, while the S&P 500 and Nasdaq Composite sank 1.1% and 0.5%, respectively.
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Over the weekend, Speaker of the House Nancy Pelosi and White House chief of staff Mark Meadows both accused the other side of moving the goalposts. Pelosi, however, added an agreement "could happen" this week.
European indices were also sagging on Monday, as the Italian government said it would close bars and restaurants at 6 p.m., while gyms and movie theaters were being shut to fight off the second wave of COVID-19 infections. Separately, Spain said it would introduce a curfew, starting at 11 p.m. Read more at FOX Business