Global Markets: US stocks gave up their earlier gains to close mixed as market sentiment was dented by concerns over a resurgence in coronavirus infections across the country. On Friday, the Dow Jones Industrial Average fell 208.64 points, or 0.80 per cent, to 25,871.46. The S&P 500 decreased 17.42 points, or 0.56 per cent, to 3,097.92. The Nasdaq Composite Index was up 3.07 points, or 0.03 per cent, to 9,946.12, Xinhua news agency reported.

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The three major averages posted strong gains earlier in the session with the 30-stock index up 371 points in intraday trading.

Ten of the 11 primary S&P 500 sectors finished lower, with utilities shedding 3.1 per cent, leading the laggards. Health care rose 0.87 per cent, the only gaining group.

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A spike in new coronavirus cases in some US states has raised questions about a swift economic recovery from the pandemic, experts noted.

More than 2.2 million confirmed COVID-19 cases have been reported in the United States, with nearly 119,000 deaths, as of Friday afternoon, according to the Center for Systems Science and Engineering at Johns Hopkins University.