Stocks were mixed in intraday trading on Tuesday following the S&P 500's biggest loss in a month after earnings came in stronger than expected and Advanced Micro Devices agreed to acquire chipmaking rival Xilinx for $35 billion.
Stocks ended the trading session sharply lower on Monday. The Dow dropped 650 points, or 2.29%, to 27,685, the S&P 500 slumped 1.86% and the Nasdaq fell 1.64%.
Cases of the coronavirus surpassed 43.6 million worldwide, with over 1.1 million deaths. The U.S. has 8.7 million cases with over 225,000 deaths.
Per the COVID-19 Tracking Project, there were 62,315 new cases reported Monday, which is lower than the 65,687 cases reported the day earlier. 1.1 million new tests were reported. And 389 deaths were reported yesterday, which is higher than the 377 deaths reported the day prior.
The selloff came as a stimulus agreement from lawmakers in Washington before Election Day appeared unlikely.
House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin yet again failed to reach an agreement on a relief package in a phone call Monday, according to a Pelosi aide.