The stock market tumbled on Tuesday shortly after President Trump announced an abrupt end to negotiations over a COVID-19 stimulus bill until after the election. Democratic presidential nominee Joe Biden slammed Trump’s decision, tweeting, “Make no mistake: if you are out of work, if your business is closed, if your child’s school is shut down, if you are seeing layoffs in your community, Donald Trump decided today that none of that matters to him.” Trump’s announcement came shortly after Federal Reserve Chair Jerome Powell warned of “tragic” results if the government doesn’t do more to boost the economy, which is facing its biggest crisis in decades. In a bizarre move, Trump then retweeted an article explaining why Powell feels a stimulus is needed.
After widespread criticism, Trump then tweeted on Tuesday night that he would be open to signing a stand-alone bill solely designed to provide a second round of $1,200 stimulus checks. On Tuesday, House Speaker Nancy Pelosi openly questioned if Trump’s decision-making ability has been impacted by the steroids he is taking for COVID-19.