New York (CNN Business) Stocks took a dive Tuesday afternoon after President Donald Trump said he ordered an end to stimulus negotiations until after the November election. Theswung more than 600 points following the announcement and closed down 1.3%, or 376 points. He said the risk of doing too little in terms of stimulus was far greater than the risk of doing too much. Trump's decision deals a major blow to those hoping for more stimulus to help the country get through this crisis. Trump signed an executive order in August, bolstering benefits by a weekly $300 by diverting money from the Federal Emergency Management Agency.

Source: CNN October 06, 2020 19:13 UTC