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US stocks end in red amid cautious moves
The major US averages closed in negative territory yesterday. The Dow slid 257.59 points (0.6%) to 41,794.60. The Nasdaq fell 59.93 points (0.3%) to 18,179.98 and the S&P 500 dipped 16.11 points (0.3%) to 5,712.69. Sentiments remained cautious ahead of the US Election outcome. The US Federal Reserve's meeting is also scheduled for this week, with a 25 basis point rate cut widely expected, following a 50 basis point reduction in September.
The more notable move to the downside by the Dow came as Intel (INTC) and Dow Inc. (DOW) came under pressure following news they will removed from the blue chip index. Nvidia (NVDA) rose on news, replace Intel in the Dow prior to the start of trading on Friday. Paint maker Sherwin-Williams (SHW) also surged higher following news it will replace Dow.
