Stocks drop after President Trump calls off stimulus talks
Stocks turned sharply lower on Wall Street Tuesday afternoon after President Donald Trump ordered a stop to negotiations with Democrats on a coronavirus economic stimulus bill until after the election. The S&P index slid 1.3% after Trump tweeted his mandate. The benchmark index had been up 0.7% just prior to the presidentโs announcement with about an hour of trading left. Reports on the economy have been mixed recently, as some areas show a slowdown after extra unemployment benefits and other stimulus earlier approved by Congress expired. The marketโs slide comes a day after the S&P 500 posted its best day in more than three weeks.