U.S. equity markets were moderately lower Friday morning as a stalemate in coronavirus aid talks and disappointing tech earnings have the major averages set to fall from their record highs.


The Dow Jones Industrial Average was weaker by 222 points, or 0.71%, while the S&P 500 and the Nasdaq Composite were down 0.47% and 0.35%, respectively.

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Republican Sens. Mitt Romney of Utah and Lisa Murkowski of Alaska on Thursday suggested it was too early to know if the economy needs President Biden’s proposed $1.9 trillion package that would extend larger stimulus checks and bigger unemployment benefits, among other things. They would prefer to wait and see how the economy responds to the $900 billion package that was passed last month.

In sector news, energy stocks tumbled with West Texas Intermediate crude down $1.32 to $51.81 a barrel on concerns about President Biden's forthcoming regulatory actions impacting U.S. oil leases. Additionally, increased lockdowns in China due to the coronavirus impacting the market. Read more at FOX Business