Stocks fall on Wall Street as hopes for new economic aid fade

Stocks gave up some of their recent gains Monday as hopes faded on Wall Street that Washington will come through with badly needed aid for the economy before election day. The Standard & Poor’s 500 index dropped 1.6%, its worst day in more than three weeks. The benchmark index had been up 0.5% in the early going following a report that China’s economy grew at a 5% annual rate in the last quarter. The market’s slide was broad, though technology, healthcare and communication stocks bore the brunt of the selling. Treasury yields were mixed. The early gains evaporated by midafternoon ahead of another round of talks between Democratic and Republican leadership over a long-sought economic...