Sanders’ fight with GOP senators over unemployment aid, stocks sink into the close

Ross J Burland FXStreet

There is news that the chances for a planned Senate vote on a historic $2 trillion relief package in response to the coronavirus pandemic appeared to dwindle Wednesday. Senators have threatened to delay it over a key unemployment insurance proposal.

Bernie Sanders announced that he will place a hold over the COVID-19 bill, demanding new restrictions on a $500 billion fund for corporations, if his GOP colleagues did not drop their opposition. He said he is “prepared to put a hold on this bill” to lobby for tighter restrictions on companies receiving aid from a taxpayer pool of $500 billion.

Marke impact

The prospect of an impasse in the Senate appeared to hit US stock indexes at the end of Wednesday’s session. The S&P 500 sunk from 2551 points to 2464 points.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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