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News headlines from the United States continue to set the tone for global markets

US stocks closed lower on Tuesday, erasing earlier gains, after President Donald Trump said he would freeze stimulus negotiations in Congress until after the presidential election on November 3. Just hours before Trump tweeted, Federal Reserve Chair Jerome Powell warned of the risks of passing too little relief. After the tweet, the Dow Jones industrial average plummeted as much as 1.5% from intraday highs and finished 1.3% lower.