Wall Street staged a sharp selloff on Monday ahead of a new coronavirus stimulus deadline set by House Speaker Nancy Pelosi to reach a deal ahead of the U.S. presidential election on November 3. The Dow fell over 400 points as components like Apple (AAPL  ), Johnson & Johnson (JNJ  ) and Microsoft (MSFT  ) slumped lower. Both the Dow and the S&P 500 had their worst days since Sept. 23 and the Nasdaq posted its biggest one-day loss since Oct. 2.

Pelosi on Sunday told ABC News that she had spoken with Treasury Secretary Steven Mnuchin to set a 48-hour deadlined for a new coronavirus stimulus to occur before the election. If it does not happen in that time period, stimulus will come after the election. The pair spoke again on Monday, noting that they had made some progress towards reaching a deal and have agreed to speak again on Tuesday.

Here's how the market settled to kick-off the week:

S&P 500 Index (SPY  ): -1.63% or -56.86 points to 3,426.95

Dow Jones Industrial Average (DIA  ): -1.43% or -409.83 points to 28,196.48

Nasdaq Composite Index (QQQ  ): -1.65% or -192.67 points to 11,478.88

For Major Stock News, AMC Entertainment (AMC  ) shares soared on Monday after New York Governor Andrew Cuomo announced that theaters in the state--excluding New York City--can reopen on Oct. 23. Airline stocks--American (AAL  ), Delta (DAL  ), Southwest (LUV  ) and United (UAL  )--also jumped after the U.S Transportation Securities Administration announced that the agency had screened over one million travelers on Sunday, which was the highest one-day total since March.

For Sector Performance, every industry joined in the market's selloff on Monday, with Energy -2.10%, Information Technology -1.88% and Communication Services -1.87% being the biggest performance losers. The rest of the negative sector performance was as follows: Health Care -1.64%, Financials -1.58%, Consumer Discretionary -1.57%, Real Estate -1.55%, Consumer Staples -1.34%, Industrials -1.24%, Materials -1.19% and Utilities -0.85%.

For Commodities and Currency, the U.S. Dollar (UUP  ) slipped lower on Monday as investors began optimistic towards the passage of a near-term stimulus package, and further positive sentiment towards a 2020 coronavirus vaccine with injected into the market. The dollar index decreased 0.3%, giving back some of its 0.7% gain from last week as market participants became more cautious towards risks. Gold (GLD  ) conversely increased on news of further stimulus as investors like to use the yellow metal as a hedge against inflation. Spot gold rose 0.4% to $1,906.36 per ounce, while gold futures settled up 0.3% to $1,911.70 per ounce. Crude oil futures left Monday's session relatively unchanged as traders weighed OPEC+ new commitment to curb oil production by 7.7 million barrels per day against ongoing coronavirus demand fears. International benchmark Brent Crude (BNO  ) slipped to $42.71 per barrel, while West Texas Intermediate (USO  ) edged lower to $49.83 per barrel.

For Tuesday, investors will wait the outcome of Pelosi's 48-hour stimulus deadline. Another batch of corporate earnings including Procter & Gamble (PG  ), Netflix (NFLX  ), and Texas Instruments (TXN  ).