The stock market saw an immediate decline on Tuesday after Dr. Donald Nald Trump closed negotiations on another Covid-19 relief bill between the White House and the Congressional Democrats.
Within minutes, the Dow Jones industrial average fell more than 500 points to 27,800 from a daily high of 28,350.
The S&P 500 fell from a daily high of around 3,430 to around 360.
Both figures represent a drop-representation of about 1 percent, but they show how volatile the markets are during the coronavirus epidemic and how reactive they are to a president who often decides official administration policy via Twitter.
Mr. Trump, still recovering from his coronavirus infection, announced Tuesday that he has ordered his team to suspend negotiations with congressional Democrats on a bill toward illness, which could have a devastating effect on families and businesses affected by the epidemic.
“I have instructed my delegates to stop negotiating after the election, when I win, and immediately we will pass a big stimulus bill that focuses on hardworking Americans and small businesses,” the president said in a statement at the White House. The president offered his condolences at the White House residence.
No deal was struck between coronavirus law negotiator Nancy Pelosi and Treasury Secretary Steven Munuchin during the coronavirus crisis when Mr Trump cemented his position on Tuesday.
M.S. Pelosi and Mr. Manuchin were scheduled to make another call on the East Coast at 30.0 pm to continue negotiations, but he withdrew from the President’s announcement.
Many hangups are still blocking the deal, with Democrats planning to spend billions of dollars more on states and local governments and Democratic opposition to the Republican language that will protect businesses, health care facilities and schools from claims of responsibility. Covid-19 exposure.
House Democrats have now passed two separate bills of મે 1 trillion in May, taking into account a number of issues facing Americans during the coronavirus epidemic. Both bills have fallen in the Republican-controlled Senate.
Last month, the Senate GOPA tried to vote on a 500 500 billion “skinny” coronavirus relief bill that would pay millions of taxpayers 200,200 in direct payments, a lower version of federal unemployment insurance, and businesses, health centers and liabilities Protection was included. Schools.
The Senate Democrats filebuster that bill.
The report is contributed by John T. Bennett
