Following the expected 1st Trump-Biden debate, President Donald Trump abruptly ended negotiations on a second COVID-19 stimulus package on Tuesday, rejecting the Democrats' latest bid and announced that he was postponing negotiations until November.
Below you can see the relevant tweets of President Donald Trump.
Americans waiting for emergency aid will have to wait at least one month, but this move is directly linked to the hard struggle of the two presidential candidates.
Markets, which had been boosted by hopes of a deal, fell sharply following Trump's announcement. Dow Jones fell 376 points, or 1.3%, to 27,773 after rising about 200 points earlier than expected for a deal. The Standard & Poor's 500 Index fell 48 points, or 1.4%, to 3,361, while the tech Nasdaq fell 1.6% to 11,155.
At the same time the reaction of our Growth investment plan following the course of the SPX500 was better in terms of volatility and investment horizon, which makes us very happy as in a period of intense volatility in the markets our goal is not just to exceed the returns of an index such as the SPX500 or the Nasdaq but to stay consistent to the VAR95% variation that we have explained to our customers depending on the investment strategy they have chosen.
4-week Comparison Snapshot XSpot Wealth Growth Plan Vs SPX500
The above comparative chart between the Growth Investment Plan of XSpot Wealth and the benchmark SPX500 has been created with Bloomberg Terminal, for the period 02/09/2020 to 08/10/2020.
Comparative Chart 2020: XSpot Wealth Growth Plan Vs SPX500
The above comparative chart between the Growth Investment Plan of XSpot Wealth and the benchmark SPX500 has been created with Bloomberg Terminal, for the period 01/01/2020 to 14/09/2020.
Hours before Trump did the above tweets, Federal Reserve Chairman Jerome Powell urged Congress to provide further stimulus, saying that insufficient support would weaken the recovery from the Covid-19 recession.
It is certain that we will experience situations of intense volatility in the next period - more in the next 2 debates - as the difference between Trump and Biden's economic and fiscal policy will become more apparent and this will be the most important part for the vote of the undecided Americans. From our part, we will be prepared for the developments in order to close a very difficult year extremely positively.