Airline stocks drop after Trump ends stimulus talks

• Airline stocks dropped sharply on Tuesday following news that Trump is ending stimulus talks until after the election.
• Airlines were expected to be large beneficiaries of the next stimulus package. Speaker Pelosi urged airline executives on Friday to delay firings, saying relief was imminent.
• American Airlines dropped as much as 5% lower, United Airlines and Delta both fell 3.4%, and Southwest declined 2.4% during Tuesday trading.

• Visit Business Insider's homepage for more stories.

Airline stocks dropped sharply on Tuesday after President Trump tweeted that he's ending stimulus negotiations until after the election.

Airlines were expected to be a large beneficiary of the next stimulus package. Last Friday, House Speaker Nancy Pelosi urged airlines executives to delay job cuts, telling them that relief for airline workers was imminent.

American Airlines dropped as much as 5%, United Airlines and Delta both fell 3.4%, and Southwest slid 2.4% during Tuesday trading. The S&P 500 declined 1.5%.

Read more:A 20-year hedge-fund vet shares the 3 stocks he thinks make the perfect play for a booming housing recovery as the US heads for the suburbs