Stocks dropped suddenly today, giving up earlier gains, after President Trump called off stimulus talks in Washington. The Dow tumbled 1.34%. The S&P 500 slid 1.4%. The Nasdaq fell 1.57%.
, sparking a sharp reversal in the major market benchmarks.
Trump tweeted: "I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business." Airlines were also under pressure as the industry was hinging on additional aid to avoid more layoffs. United Airlines and Delta were down 3.7% and 2.9%, respectively. American slid 4.5% and Southwest pulled back by 2.4%.
House Speaker Nancy Pelosi, D-Calif., said Trump was putting "himself first at the expense of the country" by calling off the negotiations.
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