The broader stock market accelerated Tuesday's losses throughout Wednesday's session as near-term outlook on further coronavirus stimulus dimmed. U.S. Treasury Secretary Steven Mnuchin told reporters on Wednesday that advancing any fiscal package through Congress before the presidential election on Nov. 3 would be "difficult." Mnuchin's comments on the status of Congressional stimulus plans came shortly after meeting with House Speaker Nancy Pelosi. The two are set to speak again Thursday.

Here's how the market settled for the mid-week:

S&P 500 Index (SPY  ): -0.66% or -23.34 points to 3,488.59

Dow Jones Industrial Average (DIA  ): -0.58% or -165.83 points to 28,513.98

Nasdaq Composite Index (QQQ  ): -0.80% or -95.17 points to 11,768.73

For Major Stock News, Nio (NIO  ) shares surged nearly 23% following an upgrade from JPMorgan, with the firm lifting its price target to $40 which is almost double the amount shares closed at on Wednesday. Nio is currently up more than 500% for 2020. AMC Entertainment (AMC  ) shares fell over 16% after Bloomberg News reported that the movie theater chain was considering options to handle its debt, including bankruptcy. The company warned on Tuesday that is could run out of cash by the end of the year due to record-low consumer activity. Major banks have released their quarterly earnings this week, with Dow component Goldman Sachs (GS  ) exceeding expectations, boosting other investment firms like JPMorgan (JPM  ) and Citigroup (C  ). However, Bank of America (BAC  ) fell after reporting less-than-expected trading revenues for stocks and bonds during the third quarter.

For Sector Performance, most industries declined on Wednesday as the broader market was pressured further. Only Industrials, Materials, and Energy increased +0.54%, +0.35%, and +0.31%, respectively. The negative performance losses were as follows: Consumer Discretionary -1.43%, Communication Services -1.18%, Real Estate -1.16%, Financials -1.07%, Health Care -0.69%, Information Technology -0.55%, Consumer Staples -0.52% and Utilities -0.15%.

For Commodities and Currency, the U.S. Dollar (UUP  ) slipped on Wednesday as global equity markets remained cautious after near-term stimulus hopes were dimmed further. The dollar index fell 0.232% against other global currencies, a day after its biggest daily percentage gain in three weeks on Tuesday. Gold (GLD  ) prices gained on the weakening of the dollar and increasing uncertainties surrounding the U.S. presidential election and global economic recovery. Spot gold climbed 0.7% to $1,903.20 per ounce, while gold futures settled up 0.7% to $1,907.30 per ounce. Crude oil futures also strengthen on the lower dollar, even as demand concerns lingered. International benchmark Brent Crude (BNO  ) futures for December increased 1.18% to $42.94 per barrel, while West Texas Intermediate gained 2.1% to $41.04 per barrel.

For Thursday, market participants will turn their attention to the Labor Department's new report on weekly jobless claims, which is expected to total 825,000. Another batch of corporate quarterly earnings are also set to be released by companies like Honeywell (HON  ), Morgan Stanley (MS  ), Taiwan Semiconductor Manufacturing (TSM  ) and Wallgreens Boots Alliance (WBA  ).