Stocks Ended Solidly Lower amid Election Anxiety

U.S. stocks ended solidly lower on Tuesday, amid heightened anxiety a week before the U.S. presidential vote. The Dow Jones Industrial Average declined 105.32 points, or 0.58%, to 18,037.10. The S&P 500 fell 14.43 points, or 0.68%, to 2,111.72. The Nasdaq Composite was down 35.56 points, or 0.69%, to 5,153.58.

American manufacturers grew slightly faster in October. The Institute for Supply Management said its manufacturing index rose to 51.9%, the highest in three months, from 51.5% in September. Readings over 50% indicate more companies are expanding instead of shrinking.

Oil held just above one-month lows on Tuesday, following its largest one-day slide in more than five weeks. Brent January crude futures were up 12 cents at $48.73 a barrel by 1145 GMT, having fallen by nearly 3 percent the day before in their biggest one-day drop since Sept. 23. U.S. West Texas Intermediate (WTI) futures were down 17 cents on the day at $46.69 a barrel, but off a session low of $46.56.

Valeant Pharmaceuticals International Inc. is in advanced talks to sell a big stomach-drug business to Japan’s Takeda Pharmaceutical Co. for about $10 billion, a move seen easing pressure on Valeant over its hefty debt load.

Chipmaker Broadcom Ltd is nearing a deal to acquire network gear maker Brocade Communications Systems Inc in a deal that could be announced later this week, people familiar with the matter said on Tuesday.