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The Dow plunged more than 200 points of concern “Biden”

The Dow fell more than 200 points, hitting 31,000 today amid fears that President Joe Biden may have to cut the limits on the stimulus to be approved by Congress.

Investors are also concerned about the delays in the COVID-19 vaccination in the United States and the stock becoming expensive. After the surge in support of the US president Joe. Biden previously, with the S&P 500’s Forward P / E Ratio now approaching its highest during the 2000 dot com bubble.

As of 22.24 hours, the Dow Jones Industrial Average stood at 30,971.12, negative 204.89 points, or 0.66%.

Many members of Congress, including Republicans and Democrats, have criticized. And questioned the necessity of President Biden’s $ 1.9 trillion stimulus package.

The stance by US members of Congress could pressure President Biden to reduce the amount of stimulus measures to be approved by the House of Representatives and the US Senate.

Investors are also watching whether President Biden will be able to vaccinate 100 million Americans within the first 100 days of his promised presidency. After the government of former President Donald. Trump has missed out on the goal of vaccinating 20 million Americans by 2020.

The US is now number 1 in the world in terms of COVID-19 cases. And the deceased More than 25 million people were infected and more than 420,000 died.

President Biden announced measures to contain the COVID-19 epidemic yesterday and signed ten special presidential directives to curb the epidemic in the United States. He will mobilize thousands of federal and medical personnel to support the COVID-19 vaccination. To the Americans

President Biden also enacted the Defense Production Act to speed up production of the COVID-19 vaccine. To ensure that PPE kits, a COVID monitoring kit will be produced. And adequate raw materials are allocated for vaccine production.

The wartime manufacturing law gives the US president the power to direct companies to produce what is important to national security. This will provide the United States with the raw materials necessary to produce the novel coronavirus vaccine.

At the same time, the market was concerned that Pfizer Inc. reduced the delivery of COVID-19 vaccine. To European countries will affect the US While governments in Europe have expressed frustration with the company, some countries such as Italy have threatened legal action. After Pfizer cuts COVID-19 deliveries by 50%

The Senate will today endorse Janet Yellen, former Federal Reserve Chairwoman Janet Yellen, to endorse him, if approved. Mrs. Yellen will also be the first woman to serve as US Treasury Secretary.


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