U.S. stocks see-sawed as Congress deadlocked on a COVID-19 relief package including extra jobless benefits that buoyed the economy during a devastating lockdown

U.S. equity markets see-sawed Tuesday morning as lawmakers on Capitol Hill deadlocked on a COVID-19 relief package including extra unemployment benefits that buoyed the economy during the first several months of a devastating lockdown. The Dow Jones Industrial Average fell 21 points, or 0.08 percent, in the opening minutes of trading before wiping out losses. The S&P 500 dropped as much as 0.15 percent, and the Nasdaq fluctuated between small losses and gains. Treasury Secretary Steven Mnuchin said after talks on Monday that negotiators made a “little bit of progress,” but Democrats and Republicans remained divided on key issues including an extra $600-per-week unemployment benefit that supplemented state payouts. GOP leaders want to cut the payment to $200, arguing that the higher amount prompts lower-paid workers not to return to their jobs.

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