US equities post weekly losses amid Covid concerns

New York, Dec 13 : US equities declined in the week as market sentiment was dampened amid uncertainty over the country’s additional fiscal stimulus and soaring Covid-19 cases.
For the week ending on Friday, the Dow and S&P 500 lost 0.6 per cent and 1 per cent, respectively, while the Nasdaq fell 0.7 per cent.
The S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, logged a weekly rise of 0.5 per cent.
Wall Street cautiously followed updates on an additional US Covid-19 aid package as lawmakers struggled to push through new fiscal stimulus before year-end.
The White House on Tuesday proposed a new 916-billion-US-dollar Covid-19 relief package to Congress as the US economy faces the risk of a double-dip recession amid the pandemic.
US Treasury Secretary Steven Mnuchin and Democratic House Speaker Nancy Pelosi had been negotiating a new Covid-19 relief package for months, but failed to reach an agreement before the presidential election in November, Xinhua reported.