US Stocks Decline, Stimulus Negotiations Heat Up

Reuters US stocks closed down on Tuesday as investors mulled Senate Republicans' coronavirus stimulus package and a slew of earnings reports. The GOP continued negotiations on its initial fiscal relief plan throughout the day. The $1 trillion package includes another round of $1,200 payments and additional funds for small-business loans. Experts expect a long negotiation period as Republicans and Democrats spar over their respective proposals. Earnings misses from 3M and McDonald's weighed on major indexes. Oil tumbled through the session, with West Texas Intermediate crude dropping as much as 1.8%, to $40.85 per barrel.