At the close of trade, the Dow Jones Industrial Average index declined 68.30 points, or 0.22%, to 30,335.67. The S&P 500 index was down 8.32 points, or 0.22%, to 3,727.04. The tech-heavy Nasdaq Composite Index dropped 49.20 points, or 0.38%, to 12,850.22.
Traders also kept an eye on the latest developments in Washington after President Donald Trump signed a coronavirus relief and government spending bill over the weekend. President Donald Trump finally signed legislation late Sunday providing $900 billion in aid to individuals and businesses and $1.4 trillion to fund government agencies. Trump has called for the direct payments included in the bill to be increased to $2,000 from $600, and the House voted Monday to approve a measure increasing the size of the stimulus checks. However, Senate Majority Leader Mitch McConnell, R-Ken., blocked an effort by Senate Minority Leader Chuck Schumer, D-N.Y., to unanimously approve the House bill.
On the coronavirus front, more restrictions are being imposed to fight the spread of the new, more infectious strain. Covid-19 hospitalizations in the U.S. reached new highs, while Southern California plans to extend a regional stay-at-home order. The U.S. counted at least 188,934 new COVID-19 cases on Monday, and at least 1,899 people died, according to a New York Times tracker. In the last week, the U.S. has averaged 183,124 cases a day, down 13% from the average two weeks ago, but health experts have warned of a potential surge in cases following heavy travel for Christmas.
In U.S. economic data, the S&P Case-Shiller home price index for October showed a year-over-year rise of 7.9%, the fastest pace in six years.
Among Indian ADR, HDFC Bank added 0.17% to $70.72, Wipro added 0.18% to $5.59, Azure Power Global added 1.47% to $39.98, and ICICI Bank added 2.1% to $14.56. Dr Reddys Labs shed 0.4% to $70.14, INFOSYS fell 0.06% to $16.76, Vedanta dropped 0.34% to $8.73, Tata Motors fell 1.12% to $12.36, and WNS Holdings sank 0.94% to $70.77.
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