ASX slips as COVID cases rise, US stimulus stalls
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The Australian sharemarket wiped out most of its gains on Wednesday from the previous session, as a spike in the number of new COVID-19 cases in New South Wales and the stalling of further stimulus in the US dented investor sentiment.
The S&P/ASX 200 Index fell 17.9 points, or 0.3 per cent, to 6,682.4, rallying from a 1 per cent fall earlier in the session.
Senate Majority Leader Mitch McConnell.
Bloomberg
The market slid heavily at the open after US Senate majority leader Mitch McConnell defeated a bid by Democrats to vote on topping up stimulus cheques as part of an agreed fiscal bill.