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Wall Street dives as Trump orders halt to stimulus talks until after election – Sydney Morning Herald

Stocks dropped suddenly after President Donald Trump ordered a stop to negotiations with Democrats over another round of stimulus for the battered US economy.

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“Powell called for Congress to act quickly and Trump effectively pulled the rug out from under that,” said Oliver Pursche, president of Bronson Meadows Capital Management in Fairfield, Connecticut. “It’s troubling, given the statements Chairman Powell made earlier today.”
In remarks delivered online to the National Association for Business Economics, Powell warned the US economy could slip into a downward spiral if the coronavirus is not contained and Congress fails to deliver additional fiscal…

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