(New throughout with analyst quotes, pricing updates)
* US Treasury says some Fed funding programs will expire
* Hopes diminish for a rapid series of new American stimuli
* California sets new curfews due to coronavirus outbreaks
* The dollar is stable, the yield of the US Treasury decreases
* Global assets: tmsnrt.rs/2jvdmXl
NEW YORK, Nov. 20 (Reuters) – Rising coronavirus infection rates and declining aid to the U.S. economy got investors thinking on Friday, pushing down stock prices and bond yields during trading American.
Around 2000 GMT, the Dow Jones Industrial Average was down 150.6 points, or 0.51%, to 29,332.63, the S&P 500 had lost 7.72 points, or 0.22%, to 3,574.15 and the Nasdaq Composite had added 18.22 points, or 0.15%, to 11,922.93.
The price of 10-year Treasuries rose 9/32 to 0.8276%, from 0.855% Thursday night.
The rate had earlier slipped to its 10-day low at 0.818%, before leveling off in subsequent trade. The price of the 30-year bond rose 36/32 for a yield of 1.5318%, compared to 1.578%.
The dollar index rose 0.018%, with the euro down 0.14% to $ 1.1856.
“It’s a relatively low-key day, except for technology” where option option expirations resulted in higher-than-normal share volume, said Yousef Abbasi, global market strategist at StoneX, a global company of financial services.
Hopes of a stimulus-induced recovery faded earlier Friday after US Treasury Secretary Steven Mnuchin said the US Federal Reserve’s major COVID-19 pandemic loan programs to support businesses and local governments would expire by the end of 2020.
Shares had risen slightly in Europe earlier, boosted in part by Thursday’s announcement that Democratic Leader of the US Senate Chuck Schumer and Republican Majority Leader Mitch McConnell have decided to resume COVID-relief talks. 19.
New surges in coronavirus cases are also hurting sentiment, with California announcing new curfews in an attempt to tackle the spike in infections, while Japan faces a third wave of the virus and parts of Europe are already subject to recently renewed restrictions.
The World Trade Organization said if world merchandise trade rebounded in the third quarter after the lockdowns, there would be a slowdown at the end of 2020.
In a letter to U.S. Federal Reserve Chairman Jerome Powell, Mnuchin said that $ 455 billion allocated to the treasury under the CARES Act should instead be available for Congress to reallocate.
Although little used, Fed officials believed the programs reassured financial markets and investors that credit would remain available to help businesses, local agencies and even nonprofits get through the crisis. pandemic.
FACTBOX-This is where the Fed’s emergency facilities are located.
Mnuchin’s decision added to market concern over broader economic growth, as data shows the rapid rapid recovery after a historic fall in the US economy is fading, with more than 10 million people who had a job in january still without work.
Reporting by Alwyn Scott in New York and Tom Arnold in London; Editing by Angus MacSwan and Tom Brown