Shares of energy companies fell alongside oil futures amid skepticism about the outlook for the global economic recovery.
A group of 10 investment banks polled by The Wall Street Journal forecast that oil futures wouldn't return to the pre-coronavirus levels until late next year, citing the devastating impact on the airline business from the Covid-19 pandemic.
Federal Reserve officials have repeatedly warned that the U.S. economic recovery would be jeopardized by a failure to issue a second round of fiscal stimulus, but the White House and Democratic leadership are still "far apart" in negotiations on the proposed second relief package, according to House Speaker Nancy Pelosi.
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(END) Dow Jones Newswires