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Dow dives more than 300 points after Trump abruptly kills COVID stimulus negotiations

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Donald Trump (AFP)

In a series of tweets Tuesday afternoon, President Donald J. Trump said he is ending negotiations with congressional Democrats regarding a follow-up COVID-19 stimulus bill until after the presidential election.

Trump tweeted, “I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business.”

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Following his messaging, the Dow Jones Industrial Average traded 400 points lower, or more than 1%, after reporting an upward trend of more than 200 points earlier in the day. Similarly, CNBC reported the S&P 500 and Nasdaq Composite were lower by 1.5% and 1.7%, respectively.

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Trump tweeted his condemnation of furthering negotiations after Federal Reserve Chair Jerome Powell urged Congress to come through with more aid, saying that too little support “would lead to a weak recovery, creating unnecessary hardship for households and businesses.”

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“Even if policy actions ultimately prove to be greater than needed, they will not go to waste,” Powell said. “The recovery will be stronger and move faster if monetary policy and fiscal policy continue to work side by side to provide support to the economy until it is clearly out of the woods.”

Three hours prior, Trump touted that the economy, jobs and the stock market were in good shape “under the Trump Administration.”

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2020 Election

If the GOP thinks Trump is ushering in a crisis — why did they support him for the last year?: Bulwark editor

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Veteran newsman Carl Bernstein revealed that there are 21 Republicans too scared to reveal they think President Donald Trump should have reached the end of his options to fight the 2020 election. Still, most of them aren't speaking out publicly and they spent the past year enabling Trump, knowing full well that this is who he is.

Writing for the Bulwark on Monday, Jonathan V. Last cited editors of the National Review who are calling Trump's behavior “disgraceful” and “the most outlandish and irresponsible performance ever by a group of lawyers representing a president of the United States.”

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2020 Election

Power-hungry Republicans do not fear Trump — it’s worse than that

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There’s a presumption at work among members of the Washington press corps that needs rethinking. That presumption is this: the Republicans, especially those in the Senate, fear the wrath of voters who have balled up their identities with the rise and fall of Donald Trump. For this reason, all the Republicans, with rare exception, stand in silence while the president prosecutes what must be called an attempted coup d’etat.

This article was originally published at The Editorial Board

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2020 Election

Katie Porter did not question Emily Murphy because the GSA head blew off today’s Biden transition briefing

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Add General Services Administration administrator Emily Murphy to the long list of Trump administration officials who have decided respectfully honoring a lawful congressional request is optional.

Many Americans on Monday were excited to see Congresswoman Katie Porter (D-CA) question the GSA head, but it was not to be. Tweets like this one went wild on Monday morning:

GET READY: Today Rep. Katie Porter will ask @GSAEmily and the @USGSA to explain to America why they’re blocking the Biden-Harris team from a proper transfer of power. Every lost day endangers the lives of millions of Americans across the country. pic.twitter.com/DtunHVI3xg

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