Stock Market Today: Trump Pulls the Plug on Stimulus, Stocks

Tuesday's relative market calm was shattered in the afternoon after President Trump called for an abrupt halt to COVID stimulus negotiations.

(Image credit: Getty Images)

The stock market spent most of today dithering between small gains and small losses … that is until Tuesday's late afternoon, when President Donald Trump yanked the emergency brake.

Just a couple days after expressing his support for a COVID stimulus package, Trump tweeted that he was ordering his team to stop negotiations with the House and instead focus on approving his Supreme Court nominee, adding that he would pass "a major Stimulus Bill" if he retained control of the White House in November.

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Disclaimer

Kyle Woodley was long AAPL as of this writing.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.