Talks between Treasury Secretary Steven Mnuchin and Democratic House Speaker Nancy Pelosi will continue on Wednesday. The Trump administration has proposed $1.8 trillion in aid, while Democrats are pushing for $2.2 trillion.
The major U.S. stock indexes have traded in a tight range over the past week as investors track progress over stimulus talks.
Wall Street's fear gauge touched a one-month high earlier on Wednesday as the U.S. election campaign enters its final stretch.
President Donald Trump and Democratic challenger Joe Biden will face off in their second and final debate on Thursday night where Trump will attempt to change the trajectory of a race that Biden is leading, according to national polls.
"Markets have rallied assuming a Democratic sweep. They think a large stimulus program could be put in place by the Biden administration," said Bill McMahon, chief investment officer of Active Equity Strategies at Charles Schwab Investment Management.
At 11:19 a.m. ET, the Dow Jones Industrial Average was down 81.54 points, or 0.29%, at 28,227.25, the S&P 500 was down 7.69 points, or 0.22%, at 3,435.43, and the Nasdaq Composite was down 31.46 points, or 0.27%, at 11,485.04.