India, Oct. 22 -- Stocks have come under pressure over the course of morning trading on Thursday, with the major averages pulling back firmly into negative territory after moving modestly higher early in the session.

The major averages have seen further downside in recent trading, hitting new lows for the session. The Dow is down 155.33 points or 0.6 percent at 28,055.49, the Nasdaq is down 106.2 points or 0.9 percent at 11,378.68 and the S&P 500 is down 19.59 points or 0.6 percent at 3,415.97.

The weakness that has emerged on Wall Street partly reflects uncertainty about a new stimulus bill, as traders wait for more concrete signs of progress on an agreement.

House Speaker Nancy Pelosi's deputy chief of staff Drew Hammill revealed the...