Wall Street drops; Pelosi says to start formal impeachment inquiry

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U.S. stocks fell in volatile trade on Tuesday, giving the S&P 500 its biggest daily drop in a month as a push for the impeachment of U.S. President Donald Trump gained momentum among Democrats in the U.S. Congress.

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NEW YORK (Reuters) – U.S. stocks fell in volatile trade on Tuesday, giving the S&P 500 its biggest daily drop in a month as a push for the impeachment of U.S. President Donald Trump gained momentum among Democrats in the U.S. Congress.

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 23, 2019. REUTERS/Brendan McDermid

Declining issues outnumbered advancing ones on the NYSE by a 2.20-to-1 ratio; on Nasdaq, a 3.43-to-1 ratio favored decliners.

The S&P 500 posted 31 new 52-week highs and two new lows; the Nasdaq Composite recorded 36 new highs and 96 new lows.

Volume on U.S. exchanges was 7.68 billion shares, compared to the 7.2 billion average for the full session over the last 20 trading days.

Additional reporting by Ambar Warrick, Arjun Panchadar and Medha Singh in Bengaluru; Editing by David Gregorio and Tom Brown


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Author:

U.S. stocks fell in volatile trade on Tuesday, giving the S&P 500 its biggest daily drop in a month as a push for the impeachment of U.S. President Donald Trump gained momentum among Democrats in the U.S. Congress.

Source: {authorlink}

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