Wall Street Spooked By Trump's Comeback -- U.S. Commentary

(RTTNews) - U.S. stocks tumbled Tuesday, extending recent losses on speculation that "change" candidate Donald Trump has a real chance at winning next week's election.

Hillary Clinton's worsening e-mail scandal has put Trump back in the race, spooking markets favoring the status quo.

The S&P 500 fell 14.59 points, or 0.7%, to 2,111.57. The Nasdaq lost 35.56 points, or 0.7%, to 5,153.58. The Dow Jones Industrial Average dropped 105.39 points, or 0.6%, to 18,037.10.

Valeant shares skyrocketed after the Wall Street Journal said that the beleaguered drug maker is in talks to sell its Salix business for around $10 billion.

Tronc. Inc. (TRNC) tumbled 12.4% after USA Today-owner Gannett Inc. abandoned its pursuit of the rival media company.

Meanwhile, the FOMC began their 2-day meeting in Washington this morning.

The Fed's decision on interest rates will be announced tomorrow morning. Despite some jawboning earlier this month, there is virtually no chance the Fed will raise interest rates just days before the election.