Dow loses grip on 30,000 early Monday as investors worry about coronavirus spread; Tesla sees first trade as S&P 500 member

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U.S. stocks early Monday opened lower to start Christmas week as coronavirus stimulus deal overshadowed worries over a new COVID-19 strain in Europe. The Dow Jones Industrial Average was trading 200 points, or 0.7%, lower at 29,985, the S&P 500 retreated 1% to reach 3,673. The Nasdaq Composite Index lost 102 points, or 0.8%, early Monday to reach 12,652. Congressional efforts toward a fresh aid package to combat the detrimental economic effects of the pandemic were coupled with a roughly $1.4 trillion annual fiscal spending package, with lawmakers set to vote on a bill later Monday. However, investors are focused on tightened lockdown measures in London, where reports of a novel strain of the coronavirus that causes COVID-19 has rattled investor confidence. Markets also are focused on Tesla Inc. , which is seeing its first trading day as an S&P 500 member.
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