US president Donald Trump has abruptly broken off talks with congressional Democrats on a new fiscal stimulus package until after next month’s presidential election.
The move, announced by Mr Trump on Twitter on Tuesday, triggered an immediate sell-off in US equity markets as economists warned that the lack of government support could jeopardise America’s recovery from the coronavirus pandemic.
Unless the decision is reversed, it means that many American households, including those hit by unemployment, and businesses, from restaurants to airlines and hotels, could face financial distress in the weeks and months to come.
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