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Trump says chances of government shutdown 'probably very good' – live updates | Trump says chances of government shutdown 'probably very good' – live updates |
(35 minutes later) | |
Here’s a taste of Dom’s report on a choppy day on Wall Street… | |
Turmoil in Washington injected further pessimism into US stock markets on Friday, as the Nasdaq, Dow and S&P 500 kept pace for their worst month since 2009. | |
“The market continues to react to the possibility of a government shutdown, fear of a domestic and global slowdown and general displeasure about the direction of Fed policy,” said Ryan Larson, head of US equity trading at RBC Global Asset Management in Chicago. | |
The tech-heavy Nasdaq sank to a 15-month low, falling as much as 21.5% from its 29 August high. The benchmark S&P 500 index, already on pace for its biggest percentage decline in December since the Great Depression, hit its lowest level since August 2017. The Dow Industrials fell to the lowest level since October 2017. | |
All three indexes swung between losses and gains of more than 1%. They received a momentary boost after the New York Fed president, John Williams, said on CNBC that the Fed was open to reassessing its views and monitoring market signals that economic growth could fall short of expectations. | |
That news helped drive shares higher oversea: in London the FTSE closed nine points higher at 6,721. But those gains soon evaporated as economic worries again prevailed. | |
Williams’ dovish comments could point to hidden concerns among some Fed policymakers, said Tim Ghriskey, investment strategist at Inverness Counsel in New York. | |
“[Williams’ comments] helped the markets for a while early on, and then it was just a sell-off after that,” Ghriskey said. “Part of that is when the Fed says something like they’re re-looking at things, there’s a concern that maybe the Fed knows something that we don’t know.” | |
Meanwhile in the Senate, a chamber literally racked with suspense but also notably not very full of senators, it is now being reported by CNN among others that Pence, Kushner and Mulvaney have spoken to the Senate minority leader, Chuck Schumer, in private. The Trump admin team, we are told, then went into talks with itself. The tension is almost literally measurable. | |
Reuters does its best to up it by offering up a brief report on remarks by John Cornyn, the No2 Republican in the Senate. | |
There may be room for compromise on a government funding bill but US President Donald Trump would not back any measure that lacked money for his proposed border wall, [Cornyn] said, hours ahead of a midnight deadline to fund part of the federal government. | |
“The president is not in the mood for zeroing that out,” Cornyn told reporters, referring to funds to protect the US-Mexico border. | |
Hard to see immediately what “room for compromise” he’s talking about, then. | |
All this while the US markets have closed after their worst week in a decade, adding to Donald Trump’s woes. Business editor Dominic Rushe will be along shortly with more on that. | |
Supreme Court Justice Ruth Bader Ginsburg, who had cancerous growths removed from her lungs, voted from her hospital bed to uphold a block on Donald Trump’s restrictions on asylum, NBC reports. | Supreme Court Justice Ruth Bader Ginsburg, who had cancerous growths removed from her lungs, voted from her hospital bed to uphold a block on Donald Trump’s restrictions on asylum, NBC reports. |
The 5-4 decision let stand a lower court’s order temporarily blocking Trump’s ban on applying for asylum for people who have crossed the US border illegally. | The 5-4 decision let stand a lower court’s order temporarily blocking Trump’s ban on applying for asylum for people who have crossed the US border illegally. |
NBC News has learned Justice Ruth Bader Ginsburg voted FROM HER HOSPITAL BED to refuse to let the government enforce Pres. Trump's proposed restriction on asylum. The court voted 5-4 to leave a lower court ruling in place that blocks enforcement of the crackdown. @PeteWilliamsNBC | NBC News has learned Justice Ruth Bader Ginsburg voted FROM HER HOSPITAL BED to refuse to let the government enforce Pres. Trump's proposed restriction on asylum. The court voted 5-4 to leave a lower court ruling in place that blocks enforcement of the crackdown. @PeteWilliamsNBC |
Donald Trump appears to be bringing in some reinforcements. Vice President Mike Pence - who would case a deciding vote in the case of a tie - incoming White House chief of staff Mick Mulvaney, and Trump’s son in law and adviser Jared Kushner, are on hand at the Senate. | Donald Trump appears to be bringing in some reinforcements. Vice President Mike Pence - who would case a deciding vote in the case of a tie - incoming White House chief of staff Mick Mulvaney, and Trump’s son in law and adviser Jared Kushner, are on hand at the Senate. |
Pence, Mulvaney, Kushner have arrived in the Senate. | Pence, Mulvaney, Kushner have arrived in the Senate. |
Income White House chief of staff Mick Mulvaney once called Donald Trump’s views on a border wall and immigration “simplistic” and “absurd and almost childish,” according to a 2015 interview unearthed by CNN. | Income White House chief of staff Mick Mulvaney once called Donald Trump’s views on a border wall and immigration “simplistic” and “absurd and almost childish,” according to a 2015 interview unearthed by CNN. |
Mulvaney, tapped by trump as acting chief of staff to replace John Kelly, made the comments in an interview on WRHI radio in South Carolina. | Mulvaney, tapped by trump as acting chief of staff to replace John Kelly, made the comments in an interview on WRHI radio in South Carolina. |
“The fence doesn’t solve the problem. Is it necessary to have one, sure? Would it help? Sure. But to just say build the darn fence and have that be the end of an immigration discussion is absurd and almost childish for someone running for president to take that simplistic of [a] view,” Mulvaney said. | “The fence doesn’t solve the problem. Is it necessary to have one, sure? Would it help? Sure. But to just say build the darn fence and have that be the end of an immigration discussion is absurd and almost childish for someone running for president to take that simplistic of [a] view,” Mulvaney said. |
Senator Jon Tester just arrived from Montana and voted no on the motion to proceed, according to the Daily Beast. | Senator Jon Tester just arrived from Montana and voted no on the motion to proceed, according to the Daily Beast. |
“Nine and a half hours,” he said shaking his head, referring to how long it took him to get back to Washington for the vote. | “Nine and a half hours,” he said shaking his head, referring to how long it took him to get back to Washington for the vote. |
Tester walked into the chamber just now. Voted no. Walked right back out.“Nine and a half hours,” he says, shaking his head. (That’s how long it took him to get here from Montana.) | Tester walked into the chamber just now. Voted no. Walked right back out.“Nine and a half hours,” he says, shaking his head. (That’s how long it took him to get here from Montana.) |
The Supreme Court has refused to revive Donald Trump’s bar on applying for asylum for people who cross the border illegally, Reuters reports. The vote was 5-4. | The Supreme Court has refused to revive Donald Trump’s bar on applying for asylum for people who cross the border illegally, Reuters reports. The vote was 5-4. |
BREAKING: Supreme Court REJECTS Trump administration bid to revive asylum restrictions. 5-4 vote | BREAKING: Supreme Court REJECTS Trump administration bid to revive asylum restrictions. 5-4 vote |
A federal judge in California blocked the rules refusing asylum to migrants who cross the US southern border illegally, marking a significant blow to the president’s crackdown on immigration. | A federal judge in California blocked the rules refusing asylum to migrants who cross the US southern border illegally, marking a significant blow to the president’s crackdown on immigration. |
Chief Justice John Roberts joined the court’s liberals in declining to overrule that decision. | Chief Justice John Roberts joined the court’s liberals in declining to overrule that decision. |
Senate Majority Leader Mitch McConnell has found one thing the body can agree on. | Senate Majority Leader Mitch McConnell has found one thing the body can agree on. |
“This is the unanimous position of the Senate at the moment,” says McConnell holding a button that says “Senate Cranky Coalition.” pic.twitter.com/u8mqzLpDzN | “This is the unanimous position of the Senate at the moment,” says McConnell holding a button that says “Senate Cranky Coalition.” pic.twitter.com/u8mqzLpDzN |
Some Senate Republicans are proposing to reauthorize protections for young immigrants brought to the country as children, in a last minute compromise to get funding for Donald Trump’s border wall and avert a government shutdown. | Some Senate Republicans are proposing to reauthorize protections for young immigrants brought to the country as children, in a last minute compromise to get funding for Donald Trump’s border wall and avert a government shutdown. |
Republicans at a private lunch meeting proposed reauthorizing the Deferred Action for Childhood Arrivals program, which Trump terminated, in exchange for Democratic support for $5.7bn for a wall, the Hill reports. | Republicans at a private lunch meeting proposed reauthorizing the Deferred Action for Childhood Arrivals program, which Trump terminated, in exchange for Democratic support for $5.7bn for a wall, the Hill reports. |
The last ditch compromise idea comes as a motion to begin debate on a budget bill with $5.7bn in wall money remains stalled in the Senate floor. | The last ditch compromise idea comes as a motion to begin debate on a budget bill with $5.7bn in wall money remains stalled in the Senate floor. |
“I think one that could — if we’re going to reopen this thing to add more money for a wall or steel slats, or whatever you want to call it, then throw DACA in too,” Arizona Sen. Jeff Flake said, according to the Hill. He said several colleagues support that position. | “I think one that could — if we’re going to reopen this thing to add more money for a wall or steel slats, or whatever you want to call it, then throw DACA in too,” Arizona Sen. Jeff Flake said, according to the Hill. He said several colleagues support that position. |
Flake voted no on the motion to proceed. | Flake voted no on the motion to proceed. |
The tally now stand at 43-45 in the Senate on a motion to start debate on a funding bill with $5.7bn for the border wall. | The tally now stand at 43-45 in the Senate on a motion to start debate on a funding bill with $5.7bn for the border wall. |
Leaders are holding the vote open to allow more senators to vote as they arrive back from aborted holiday travel. At least one senator, Republican Bob Corker, is present but has not voted. He has been critical of Donald Trump’s abrupt decision to force a shutdown over wall funding. | Leaders are holding the vote open to allow more senators to vote as they arrive back from aborted holiday travel. At least one senator, Republican Bob Corker, is present but has not voted. He has been critical of Donald Trump’s abrupt decision to force a shutdown over wall funding. |
Bottom line: Republicans may not even have the 50 votes to begin debate on the bill. | Bottom line: Republicans may not even have the 50 votes to begin debate on the bill. |
Senate stuck at 43-45 tally to advance House spending and border wall bill | Senate stuck at 43-45 tally to advance House spending and border wall bill |
Per @cspan the 12 senators who haven't voted yet: Corker, Hatch, Heller, Isackson, Kyl, Paul, Risch, Feinstein, Jones, Murray, Tester, Udall | Per @cspan the 12 senators who haven't voted yet: Corker, Hatch, Heller, Isackson, Kyl, Paul, Risch, Feinstein, Jones, Murray, Tester, Udall |
This is from a GOP senator. For what it's worth, the vote is still open at 43-45. Unchanged in almost an hour. https://t.co/PNiaTMd4V7 | This is from a GOP senator. For what it's worth, the vote is still open at 43-45. Unchanged in almost an hour. https://t.co/PNiaTMd4V7 |