Dow falls 950 points as coronavirus infections rise and hope fades for stimulus talks

White House Chief of Staff Mark Meadows said the Trump administration will "defeat" the pandemic, "because we're Americans."

Wall Street fell sharply on Monday as hopes faded for a fresh round of fiscal aid and the number of new coronavirus cases surged, reflecting a rising risk of more lockdowns and a slower economic recovery.

White House Chief of Staff Mark Meadows told CNN on Sunday that the Trump administration will"defeat" the pandemic,"because we're Americans." Negotiations between House Speaker Nancy Pelosi, D-Calif., and Treasury Secretary Steven Mnuchin"have certainly slowed down," White House economic adviser Larry Kudlow told CNBC on Monday morning."We are close, but there are still important policy issues that separate us."

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