U.S equities close sharply in the red on the back of New York Mayor Bill De Blasio’s public school closures in response to rising Covid-19 cases in the city. This, as the overall Covid-related death toll in the U.S. reaches 250,000. JPMorgan CEO Jamie Dimon says continued caution is needed despite the news that the Pfizer-BioNtech vaccine deliveries could begin by Christmas. Meanwhile, global corporate debt is set to hit a record $277tn by year-end with the IIF warning that emerging economies will be hardest hit. And CNBC hears from Senator Elizbeth Warren and Obama Foundation co-chair Valerie Jarrett who urge a solution to the deadlock in the U.S. presidential transition.

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