US stocks close lower for second straight day

The US stock indices turned lower on Wednesday, falling for the second straight session, as hopes diminished about the second fiscal stimulus package to ease the coronavirus economic impact.

President Donald Trump administration proposed to the Congress a $1.8 trillion fiscal stimulus package, but House of Representatives' Democrats ruled out voting on it ahead of the presidential election in November.

President Trump confirmed that he alongside his wife and son have recovered from the coronavirus after a short period.

Johnson & Johnson announced this week pausing the clinical trials for its COVID-19 vaccine candidate after an unexplained illness in one of the volunteers.

Data showed today that the US producer price index rose 0.4% in September, beating forecasts of 0.2%.

To the oil market, WTI November futures at Nymex rose 2.1% or 84 cents, to close at $41.04 a barrel, after hitting a high of $41.1 and a low of $39.8.

Brent November futures rose 2.1% or 87 cents, to $43.32 a barrel, with a high of $43.4 and a low of $42.1.

As for stocks, Dow Jones fell 0.6% or 166 points to close at 28,514, after it hit a day high 28,792 and a low 28,461.

Nasdaq fell 0.8% or 95 points to 11,768 points, with a high of 11,940 and a low of 11,714.

S&P 500 fell 0.7% or 23 points to 3,488, with a high of 3,528 and a low of 3,480.