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.
Congressional Democrats offered to reduce a proposed coronavirus aid package by $1 trillion if Republicans would add a trillion to their counter-offer, but President Donald Trump's negotiators turned them down on Friday as more talks ended without a deal.
Joe Arpaio is the outspoken, controversial, and former sheriff of Maricopa County, Arizona. And according to CNN, he will remain a former sheriff, thanks to Tuesday's Republican primary for the post. Arpaio lost his shot at getting his job back to his former chief deputy Jerry Sheridan by about 6,000 votes. In 2017, Arpaio was found guilty of criminal contempt for ignoring a court order in a racial profiling case.