A day after the markets saw solid gains because of rumors that Treasury Secretary Steven Mnuchin and Speaker of the House Nancy Pelosi were exchanging details on a coronavirus relief bill, signalling a future deal, President Trump killed any gains by announcing the end to all negotiations.
The DJIA plummeted 500 points, about 2%, in 30 minutes on news that Trump called off talks, an announcement made via Twitter during market hours. The NASDAQ and S&P 500 indices saw similar drops.