Stocks sank after President Trump scrapped stimulus talks while blasting House Speaker Nancy Pelosi’s $2.4 trillion ask which is well above the $1.6 trillion Mnuchin was pushing for.
TRUMP REJECTS DEMS COVID-19 STIMULUS DEAL
The Dow Jones Industrial Average fell nearly 400 points or 1.3%, while the S&P 500 and Nasdaq Composite dropped 1.4% and 1.5%, respectively.
|I:DJI||DOW JONES AVERAGES||27772.76||-375.88||-1.34%|
|I:COMP||NASDAQ COMPOSITE INDEX||11154.603642||-177.88||-1.57%|
The move curbs an effort by Federal Reserve Chairman Jerome Powell, who reiterated the need for more stimulus earlier today while warning of major risks to the economy without it.
“The recovery will be stronger and move faster if monetary