Midday Report: Gannett Abandons Tronc Bid; U.S. Stocks Fall on Election Uncertainty

Stocks began the new month in the red as uncertainty over the upcoming presidential election weighed on Wall Street. Most polls show Democratic candidate Hillary Clinton leading a narrower race. Manufacturing activity in the U.S. in October improved by slightly more than expected. A comeback in manufacturing has been welcome after a higher U.S. dollar and low oil prices stunted growth for months. Construction spending in September showed a surprise decrease. Private nonresidential construction weighed on the total as commercial and manufacturing building activity declined. August's number was also revised to show a smaller increase. Gannett (GCI) - Get Report jumped after abandoning its bid to purchase newspaper publisher Tronc (TRNC) . The two had failed to reach an agreement on price after months of talks. Tronc shares slumped on Tuesday. TheStreet's Keris Lahiff reports from Wall Street.