Stocks Ended Sharply Lower as Trump Called Off Stimulus Talks

U.S. stocks ended sharply lower on Tuesday after Trump called for an end to stimulus talks until after the election. The Dow Jones Industrial Average dropped 375.88 points, or 1.34%, to 27,772.76. The S&P 500 declined 47.66 points, or 1.40%, to 3,360.97. The Nasdaq Composite fell 177.88 points, or 1.57%, to 11,154.60.

Oil futures notched back-to-back gains Tuesday, as investors focused on a strike that’s curtailed Norwegian output and Hurricane Delta, which has led to production disruptions in the Gulf of Mexico. West Texas Intermediate crude for November delivery rose $1.45, or3.7%, to settle at $40.67 a barrel. December Brent crude gained $1.36, or 3.3%, at $42.65 a barrel.

Levi Strauss & Co posted better-than-expected quarterly revenue on Tuesday. Levi said net revenue fell to $1.06 billion from $1.45 billion. Analysts were expecting revenue of $822.3 million, according to IBES data from Refinitiv.