Stocks Plunge After Trump Stops Stimulus Talks

Image Credits: Spencer Platt / Staff / Getty.

We have been warning for weeks that no stimulus deal would happen before the election, and moments ago none other than President Trump confirmed just that.

The president, who has been in the White House, less than a day, just crashed stocks when he tweeted that due to Nancy Pelosi’s “bad faith” negotiations, he has instructed representatives “to stop negotiating until after the election.”

The full Trump tweetstorm:

Nancy Pelosi is asking for $2.4 Trillion Dollars to bailout poorly run, high crime, Democrat States, money that is in no way related to COVID-19.

We made a very generous offer of $1.6 Trillion Dollars and, as usual, she is not negotiating in good faith.

I am rejecting their request, and looking to the future of our Country. 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.

I have asked Mitch McConnell not to delay, but to instead focus full time on approving my outstanding nominee to the United States Supreme Court, Amy Coney Barrett.

Our Economy is doing very well. The Stock Market is at record levels, JOBS and unemployment also coming back in record numbers. We are leading the World in Economic Recovery, and THE BEST IS YET TO COME!

And speaking of the stock market being at record levels, stocks were not too happy with this abrupt end to all hopes for a stimulus deal, and risk assets plunged…… yields tumbled…… and the dollar soared.



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