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US President Donald Trump sparked further talks with Democrats about the US fiscal stimulus package until the November 3 presidential election, resulting in a huge drop in US equity markets in a matter of minutes.
After yesterday, United States Secretary of the Treasury Steve Mnuchin and Nancy Pelosi, the Democratic leader in the House of Representatives, would have been arguing today, and investors have been increasingly confident for days that another fiscal stimulus package will arrive. ahead of the November presidential elections, like previous support programs. It expired ago and millions of Americans are struggling with layoffs due to the epidemic.
These hopes were shattered by Trump, who returned from the hospital yesterday and ordered his administration not to negotiate the package with Democrats until the election, but a new package will come immediately after that. He said in a Twitter post that once he wins (currently losing), they will immediately adopt a stimulus package that will greatly help working Americans and small businesses. He says the economy is doing well, stock markets are at record highs, the economy and jobs are returning from the crisis to record levels, and he says the United States is leading the global economic recovery.
On the news that there will be no further bailout talks, the major US stock indexes are down more than 2% in minutes, falling from moderate leads to around 1-1.5% lower. The S & P500 index, for example, went from 3430 points in a short time to 3365 points. This is a drop of more than 1% from yesterday’s closing value.
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