Stocks fell lower in later trading on Tuesday after U.S. President Donald Trump announced that he has instructed officials to halt further coronavirus economic stimulus talks until after the November presidential election, rejecting House Democrat's $2.4 trillion proposal. Stocks had traded mixed earlier on Tuesday, with investors encouraged by Trump's discharge from Walter Reed National Military Medical Center to continue his COVID-19 treatment in the White House.

Yet, some economic recovery has been slowing in recent weeks. The Bureau of Labor Statistics' monthly report on U.S. job openings for August totaled 6.493 million, down from July's 6.697 million. This is the first decline in job openings in four months, with new hires roughly totaling 5.9 million and total separations falling to 4.6 million.

Federal Reserve Chairman Jerome Powell earlier on Tuesday stated that additional fiscal aid will be needed for economic recovery to continue.

"Even if policy actions ultimately prove to be greater than need, they will not go to waste," Powell stated on the U.S. economic outlook. "The recovery will be stronger and move faster is monetary policy and fiscal policy continue to work side by side to provide support to the economy until it is clearly out of the woods."

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): -1.40% or -47.68 points to 3,360.95

Dow Jones Industrial Average (DIA  ): -1.34% or -375.88 points to 27,772.76

Nasdaq Composite Index (QQQ  ): -1.57% or -177.88 points to 11,154.60

For Major Stock News, airline shares fell following the news that stimulus talks will be halted until November: American Airlines (AAL  ), Delta Air Lines (DAL  ), Southwest Airlines (LUV  ) and United Airlines (UAL  ). Mega-cap tech stocks also slid with the broader market: Apple (AAPL  ), Amazon (AMZN  ), Facebook (FB  ), Google (GOOGL  ), Microsoft (MSFT  ) and Netflix (NFLX  ). Boeing (BA  ) shares fell after the aerospace company lowered its commercial aircraft demand forecast for the next decade.

For Sector Performance, every industry, except Utilities who gained +1.03%, fell alongside the broader market on Tuesday. The negative performance losses were as follows: Consumer Staples -0.53%, Real Estate -0.81%, Financials -0.91%, Industrials -1.11%, Materials -1.13%, Health Care -1.24%, Energy -1.48%, Information Technology -1.60%, Communication Services -1.88% and Consumer Discretionary -2.05%.

For Commodities and Currency, the U.S. Dollar (UUP  ) climbed higher following Trump's decision to call off economic stimulus negotiations until after the U.S. presidential election. The dollar index increased 0.34% in later trading against other rival global currencies. Gold (GLD  ) prices fell as U.S. Treasury yields increases, but the metal held above the $1,900 level throughout the session. Spot gold dropped 0.6% to $1,901.89 per ounce, while gold futures settled 0.6% lower at $1,908.80 per ounce. Crude oil futures rose over $1 per barrel on Tuesday, with positive sentiment entering the market due to U.S. supply disruptions by the approaching hurricane in the Gulf of Mexico, as well as oil worker strikes in Norway. International benchmark Brent Crude (BNO  ) increased 3.41% to $42.69 per barrel, while West Texas Intermediate (USO  ) climbed 3.7% higher to $40.67 per barrel.

For the mid-week, investors will turn their attention to the Federal Open Market Committees's minutes from its September meeting.