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Bitcoin And Stocks Fall After President Trump Rejects Stimulus Package, Calls For Halt To Negotiations Until The Election
Summary: President Trump is rejecting Speaker of the House Nancy Pelosi's $2.4 trillion stimulus package proposal, according to a recent tweet from the President. He critiqued the Democrats' proposed package arguing that the money requested was to bail out "poorly run Democrat states" instead of helping the nation weather the ongoing COVID-19 pandemic. He added that ...
President Trump is rejecting Speaker of the House Nancy Pelosi's $2.4 trillion stimulus package proposal, according to a recent tweet from the President.
He critiqued the Democrats' proposed package arguing that the money requested was to bail out "poorly run Democrat states" instead of helping the nation weather the ongoing COVID-19 pandemic. He added that the Republicans countered with a $1.6 trillion dollar proposal which was not accepted by Democrats.
President Trump stated that he instructed representatives to stop negotiating until after the election when he plans to pass what he called a major stimulus bill. The United States stock market quickly reacted to the announcement with the S&P 500 dropping 1.1%, while the Dow Jones Industrial Average dropped 1.1% and the Nasdaq Composite slid 1.3%.
Bitcoin's price also took a hit, dropping by nearly $200 down to $10,559. At the time of writing Bitcoin is trading hands at $10,573.01 and is down 1.13%.
By Emily Mason
Tags: COVID-19,Nasdaq,President Trump,S&P 500,Stimulus Package,United States Economy,US Stock Market
Link: Bitcoin And Stocks Fall After President Trump Rejects Stimulus Package, Calls For Halt To Negotiations Until The Election [Copy]
