(Bloomberg) — Stocks fell on concern that prospects for a stimulus deal remain elusive amid the most-intense negotiations over a Covid-19 package since Election Day. The S&P 500 also dropped after data showed applications for U.S. unemployment benefits surged last week, topping most estimates. Technology shares continued to underperform, with Facebook Inc. slipping further as the U.S. Federal Trade Commission took a major step toward a possible breakup of the social-media giant by filing an antitrust lawsuit. Airbnb Inc. will start trading Thursday after DoorDash Inc. supercharged investor expectations by almost doubling in its frenzied public debut. Senate Majority Leader Mitch McConnell and House Speaker Nancy Pelosi have given no sign yet that they’re ready to directly engage in negotiations to sort through competing pandemic relief proposals — a step that many lawmakers say will be necessary to complete a deal this month. Meanwhile, House Republican Leader Kevin McCarthy told CNBC that he sees a deal done next week. Elsewhere, the euro rose after policy makers escalated their efforts to shield the region from a possible double-dip recession with another burst of monetary stimulus, while cautioning that it may not use up all the new firepower. The pound fell as negotiations between the U.K. and the European Union were seen on course to end without a trade deal. Surges in Doordash Inc. and C3.ai Inc. on the first day of trading were in keeping with rising speculation for U.S. stock investors, according to Jonthan Krinsky, chief market technician at Bay Crest Partners LLC, who cited the Renaissance IPO and IPOX SPAC indexes. Renaissance Capital LLC’s gauge of initial public offerings rose 32% from a late-October low through Tuesday. In a similar period, IPOX Schuster LLC’s index of current and former blank-check companies climbed 40%. The IPO index fell 3.2% Wednesday even as Doordash gained 86% and C3.ai jumped 120%. The SPAC index rose 0.3%.