US stocks pare early gains, finish lower

The major US stock indices closed lower on Wednesday, to pare their early gains.

This came amid uncertainty about the congressional debate on the second fiscal aid package to ease the economic impact of the Covid-19 pandemic.

US Treasury Secretary Steven Mnuchin met with some congressional leaders to narrow their differences and discuss the possibility of securing a deal to pass the aid package.

To the oil market, WTI crude November futures at Nymex fell by 4% or $1.67, to close at $40.03 a barrel, after hitting a high of $41.5 and a low of $39.7.

Brent December futures at LME fell 3.3% or $1.43, and closed at $41.73 a barrel, with a high of $43.04 and a low of $42.4.

As for stocks, Dow Jones fell 0.3% or 98 points to close at 28,211, after it hit a day high 28,450 and a low 28,196.

Nasdaq fell 0.3% or 32 points to 11,484 points, with a high of 11,613 and a low of 11,476.

S&P 500 fell 0.2% or 7 points to 3,435, with a high of 3,464 and a low of 3,433.