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  • The Dow Jones Industrial Average lost 375.88 points, or 1.34%.
  • The S&P500 fell 47.66 points, or 1.40%.
  • The Nasdaq Composite IXIC dropped177.88 points, or 1.57%.

Stocks on Wall Street were bleeding out by over 1% on Tuesday following the US President Donald Trump’s Twitter announcement that

 he was calling off negotiations with Democratic lawmakers on coronavirus relief legislation until after the election:

”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.”

The S&P 500 fell to a session low shortly after the tweet, taking the index down more than 2% from its session high.

Consequently, the Dow Jones Industrial Average fell 375.88 points, or 1.34%, to 27,772.76, the S&P500 lost 47.66 points, or 1.40%, to 3,360.97 and the Nasdaq Composite dropped 177.88 points, or 1.57%, to 11,154.60

In other key events on the session the Federal Reserve Chair Jerome Powell spoke and said that there is little risk of the central bank providing too much stimulus to the economy.

The “recovery will be stronger and move faster if monetary policy and fiscal policy work side by side,” he explained.  

S&P 500 levels