Stock Markets Fall on Concerns Pandemic Getting Worse after Trump Tested Positive for COVID-19

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On Friday, the Dow Jones dropped 134 points or 0.48% to 27,681.81 while the NASDAQ fell 251.49 points or 2.2% to 11,075.02. The S&P 500 went down 32.36 points or one percent to 3,248.44.

Pelosi is optimistic that the next economic stimulus is coming soon

Earlier in the day, the stock markets recorded a steeper decline but recovered some after House Speaker Nancy Pelosi said an economic stimulus bill is “imminent.”

In an interview with MSNBC, House Speaker Pelosi said the President’s COVID-19 diagnosis changes the dynamics of the negotiations regarding the next economic stimulus.

According to her, “This kind of changes the dynamic because here [Republicans] see the reality of what we have been saying all along. This is a vicious virus and it spreads. We always have to find a path, that is our responsibility to do so, and I believe that we will…We’ll find our middle ground. We’re legislators. We’ll get the job done.”

On Thursday night, the House passed a $2.2 trillion relief bill, which reinstates the $600 federal unemployment benefit and provides a second payment of $1,200 stimulus to Americans.