This Dr. (INDU) Following the announcement, more than 600 points fell and 1.3% or 376 points closed. This S&P 500 (SPX) Mess 1.4%, and Nasdaq Composite (COMP) Finished below 1.6%.
“I have instructed my delegates to stop negotiating after the election. When I win, we will pass a big stimulus bill that will focus on hardworking Americans and small businesses,” Trump said.
Tweeted.
The announcement comes just hours after Federal Reserve Chairman Jerome Powell called for more stimulus to continue economic reforms. He said the risk of doing too little in terms of arousal was greater than the risk of doing too much.
But the president disagrees: “Our economy is doing very well. The stock market is at record levels, jobs and unemployment … are also coming back in record numbers,” he added on Twitter.
Unemployment rate% in September. at%, which was sharply below the peak of the crisis. He said it was still the highest unemployment rate on record in the presidential election. The country still has 10.7 million jobs less than in February.
Recovery has been the story of two economies: for some, things have improved a lot since the economy reopened after the spring lockdown. But for millions of Americans, the economic situation is worse than ever. Entire industries have been devastated by the virus.
Trump’s decision is a big blow to those hoping for more excitement for the country to go through this crisis. For jobless Americans, that means they will have to end the crisis with less money than the start, when the government provided a weekly supplement of 600 to accelerate benefits. These benefits were reaped in late July.
Trump signed an executive order in August Gust, boosting profits by $ 300 a week by converting money from the Federal Emergency Management Agency. FEMA said some states have already emptied their allotted amount. States will raise 100 100 a week and take it to ડ 400.
It has been a few weeks for investors amid the president’s cowardly diagnosis, his hospitalization over the weekend, uncertainty surrounding the economic outlook, as well as the prospect of a contested election.
– CNN No. Phil Mattingley contributed to this article.
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