Stocks were way down on Tuesday by worries about President Donald Trump’s political future.
The S&P 500 dropped 0.8%, its biggest one-day drop since Aug. 23, to 2,966.60. The Nasdaq Composite also had its worst day in a month, dropping 1.5% to 7,993.63. The Dow Jones Industrial Average closed 142.22 points lower, or 0.5% at 26,807.77 after falling more than 200 points at one point.
House Speaker Nancy Pelosi launched a formal impeachment inquiry against President Donald Trump on Tuesday, yielding to pressure from Democrats and plunging a deeply divided nation into an election-year clash between Congress and the commander in chief.