Wall Street ends lower after Trump calls off coronavirus relief talks

US stocks fell sharply on Tuesday to close lower after President Donald Trump said he was calling off negotiations with Democratic lawmakers on coronavirus relief legislation until after the election.
 

Stocks were higher before the remarks, but reversed course after Trump made the comments on Twitter.
 

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

"Much of the rally we've seen in the last week in particular was based on hopes for an additional stimulus package," said Robert Phipps, director at Per Stirling Capital Management in Austin,