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10/6/2020, 8:59 PM (Source: TeleTrader)
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Dow sinks over 300 pts as Trump ends relief talks

Wall Street extended losses on Tuesday following the news that United States President Donald Trump has called off the negotiations with the Democrats about the next round of stimulus until after the presidential elections.

Earlier in the day, Fed's Chair Jerome Powell revealed that the federal budget is on an "unsustainable path," and that there is "a long way to go" for the labor market to recover.

The Dow Jones plunged 1.14% or 325 points at 3:05 pm ET, while the Nasdaq 100 tumbled 1.68% or 185 points. A minute later, the S&P 500 dropped 1.07%. Meanwhile, the euro lost 0.27% against the dollar to sell for $1.17526.

Breaking the News / ND