Photo: Xinhua/ via Getty Images

The Dow Jones Industrial Average closed down 799 points, while the S&P 500 and the Nasdaq Composite dropped over 3% on Tuesday. The slump comes one day after investors cheered the meeting between President Trump and China's Xi Jinping, and bringing the S&P 500 to roughly 1.5% below where it closed on Friday.

Between the lines: In a nod to how volatile the last few months have been, the Dow saw its worst day since Oct. 10, per CNBC.

Update: This story has been updated to reflect the closing numbers.

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Europe faces "stronger and deadlier" coronavirus wave

Paris under curfew. Photo: Kiran Ridley/Getty Images

The coronavirus is still winning: Now even Germany is entering another national lockdown, joined by France.

Why it matters: France has been "overpowered by a second wave,” President Emmanuel Macron said in a nationally televised address today. Macron said the "new wave will be stronger and deadlier" than the first.

Stocks close down more than 3%

Photo: Alexi Rosenfeld via Getty Images

Stocks took a hit on Wednesday, with the S&P 500, Dow Jones Industrials Average and Nasdaq dropping more than 3% across the board.

Why it matters: The volatility is a break from the stock market grinding higher in the face of spiking coronavirus cases, a stalling economy and gridlocked negotiations over an additional stimulus package.