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CORRECTED-US STOCKS-Wall Street falls after Trump calls off coronavirus relief talks

Published 06/10/2020, 20:18
Updated 06/10/2020, 20:36
CORRECTED-US STOCKS-Wall Street falls after Trump calls off coronavirus relief talks
US500
-
DJI
-
IXIC
-

(Corrects percentage drop to more than 1% in first paragraph)
* Indexes: Dow down 1.1%, S&P 500 down 1.1%, Nasdaq down
1.4%

By Caroline Valetkevitch
Oct 6 (Reuters) - U.S. stocks fell sharply and were down
more than 1% in late afternoon trading Tuesday after President
Donald Trump said he was calling off negotiations with
Democratic lawmakers on coronavirus relief legislation until
after the election.
Stocks, which had been moderately higher, reversed course
after the comments on Twitter from Trump, who returned to the
White House late Monday after a three-day hospital stay where he
received an experimental treatment for the disease. Hopes for further fiscal stimulus had been helping to
support the market.
"Investors are certainly focused on any type of stimulus
that they can get. The (Federal Reserve) is pretty much saying
we're done, there's not much more to do, the financial markets
are functioning, it's now up to you lawmakers to do the next
step," said Paul Nolte, portfolio manager at Kingsview
Investment Management in Chicago.
The Dow Jones Industrial Average .DJI fell 309.6 points,
or 1.1%, to 27,839.04, the S&P 500 .SPX lost 37.53 points, or
1.10%, to 3,371.1 and the Nasdaq Composite .IXIC dropped
139.42 points, or 1.23%, to 11,193.06.
Comments from officials that a stimulus deal was still
possible had lifted the three main stock indexes on Monday,
helping them recoup losses from last week that were sparked by
news that President Donald Trump had contracted COVID-19.

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