Stocks suddenly drop after Trump calls off stimulus talks.
The Dow Jones Industrial Average traded 250 points lower, or 0.9%. Earlier in the day, the 30-stock average was up more than 200 points. The S&P 500 and Nasdaq Composite slid 0.9% and 1.1%, respectively.
Shares of Boeing dropped about 6% to lead the Dow lower. Apple, Netflix and Amazon were all down more than 2%. Facebook slid 1.6% and Alphabet dipped 1.7%. "It will now come down to who sweeps and how much stimulus we get and what it looks like under either a Republican or Democratic congress/President," said Dennis DeBusschere, quantitative strategist at Evercore ISI. "For now ... the sweep scenario clearly favors the Dems. That is why unwinding stimulus trades should not be taken too far.
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