U.S. stocks ended down more than 1% after President Trump said he was calling off negotiations with Democratic lawmakers on coronavirus relief legislation until after the election
“Clearly the markets were pricing in some possibility of stimulus,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina.
Earlier in the session, Federal Reserve Chair Jerome Powell warned that the U.S. economic recovery remained far from complete. Declining issues outnumbered advancing ones on the NYSE by a 1.54-to-1 ratio; on Nasdaq, a 1.37-to-1 ratio favored decliners.
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