Dow, S&P 500 futures sank so much that trading halted before massive coronavirus stimulus plan failed in Senate
U.S. stock futures tanked when premarket trading began at 6 p.m. on Sunday, not long before Senate Democrats blocked a massive coronavirus stimulus bill from moving forward Sunday in the Senate and as partisan disputes raged over the legislation that’s aimed at arresting the economy’s precipitous decline.
The Dow Jones industrial average futures immediately sank 954 points, or 5 percent, triggering a halt in trading because of the sharp drop. S&P 500 futures followed shortly after, shedding 5 percent and causing trading to stop.
Wall Street investors are nervous that Congress will not pass a major economic relief package — dubbed “Stimulus 3” — in time. Republicans and Democrats have not been able to reach an agreement on a bill. The two sides remain at odds about how to handle bailouts, loans and other aid for large companies. Democrats accused Republicans of wanting to create a “slush fund” with little accountability. Republicans accused Democrats of not moving fast enough and of not leaving enough flexibility as the list of industries in need of help grows.
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Listening today to the fat lying bastard piss and moan about how much money it costs him to be the greatest president ever and the tremendous job he was doing almost caused projectile vomiting. He needs to be kept off the podium but allow him all the credit, maybe he will shut his lying mouth.
And all the while he was spewing his bullshit the futures market was tanking.