Stocks fell Friday morning as rising COVID-19 cases raised the specter that more restrictions would be unleashed across U.S. cities and states, threatening to crimp business activity and jeopardize the tenuous economic recovery. An apparent dispute between the U.S. Treasury and Federal Reserve over whether to renew some pandemic-era emergency lending programs also weighed on risk assets.
Investors weighed these risks against a steady flow of positive news over a vaccine. Pfizer (PFE) and…
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