GLOBAL MARKETS-Stocks, bond yields fall as virus gains, Fed aid ebbs

(New throughout with analyst quotes, updates prices)
* U.S. Treasury says some Fed funding programs will expire
* Hopes dim for quick round of new U.S. stimulus
* California sets new curfews due to coronavirus flare-ups
* Dollar flat, U.S. Treasury yield declines
* Global assets: http://tmsnrt.rs/2jvdmXl

By Alwyn Scott
NEW YORK, Nov 20 (Reuters) - Rising coronavirus infection
rates and dwindling aid for the U.S. economy gave investors
pause on Friday, sending stock prices and bond yields lower
during U.S. trading.
Around 2000 GMT, the Dow Jones Industrial Average .DJI was
down 150.6 points, or 0.51%, to 29,332.63, the S&P 500 .SPX
had lost 7.72 points, or 0.22%, to 3,574.15 and the Nasdaq
Composite .IXIC had added 18.22 points, or 0.15%, to
11,922.93.
Treasuries Benchmark 10-year notes US10YT=RR was up 9/32
in price to yield 0.8276%, from 0.855% late on Thursday.
The rate had slipped earlier to its lowest level in 10 days
at 0.818%, before stabilizing in later trading. The 30-year bond US30YT=RR was up 36/32 in price to yield
1.5318%, down from 1.578%.
The dollar index =USD was up 0.018%, with the euro EUR=
down 0.14% to $1.1856.
"It's a relatively muted day except for tech" where options
option expirations drove stock volume higher than normal, said
Yousef Abbasi, global market strategist at StoneX, a global
financial services firm.
Hopes of a stimulus-led recovery faded earlier Friday after
U.S. Treasury Secretary Steven Mnuchin said key COVID-19
pandemic lending programs at the U.S. Federal Reserve to support
businesses and local governments would expire by the end of
2020. Stocks had edged higher in Europe earlier, spurred in part
by news on Thursday that U.S. Senate Democratic leader Chuck
Schumer and Republican Majority Leader Mitch McConnell decided
to resume COVID-19 relief talks. Fresh flare-ups in coronavirus cases also hurt sentiment,
with California announcing new curfews to try to fight surging
infections, while Japan faces a third wave of the virus, and
parts of Europe are already under recently renewed restrictions.
The World Trade Organization said that while global trade in
goods had rebounded in the third quarter from lockdowns, there
would be a slowdown at the end of 2020. In a letter to U.S. Federal Reserve Chair Jerome Powell,
Mnuchin said $455 billion allocated to Treasury under the CARES
Act should be instead available for Congress to reallocate.
Although not used extensively, Fed officials felt the
programs reassured financial markets and investors that credit
would remain available to help businesses, local agencies and
even non-profits through the pandemic.
FACTBOX-This is where the Fed's emergency facilities stand.

Mnuchin's decision added to market anxiety about broader
economic growth as data shows the early fast recovery from a
historic plunge in the U.S. economy is fading, with more than 10
million who had jobs in January still out of work.

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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
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