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Markets Slide Following Healthcare Failure and More in Politics Today

by Countable | 3.27.17

It’s difficult to stay up-to-date on what’s happening in this country and to break through the clutter, so we’re here to make it easier. Here’s what we at Countable are reading today:

1. Dow closes down for eighth straight day as ‘Trump trade’ deflates

U.S. stocks overcame steep losses Monday but the Dow industrials and S&P 500 still closed lower as investors reassessed the prospects for President Donald Trump’s ambitious economic agenda after a Republican plan to repeal and replace Obamacare was scrapped last week

The Dow Jones Industrial Average DJIA, -0.22% marked its longest losing streak since August 2011 with eight straight declines, closing down 45.74 points Monday, or 0.2%, at 20,550.98, after overcoming an earlier 184-point deficit. The blue-chip average was led lower by shares of Chevron Corp. CVX, -1.58% and Goldman Sachs Group Inc. GS, -1.28%

The S&P 500 SPX, -0.10% slid 2.39 points, or 0.1%, to close at 2,341.59, as seven out of 11 sectors finished lower. Telecom and financial shares led decliners, while health-care and materials stocks led advancers. The benchmark index has finished down seven out of the past eight sessions. Earlier in the session, the equity gauge had been down by as many as 22 points.

Read more at Marketwatch.

2. House Intel Chair met with source of Trump monitoring claim on White House grounds day before revealing it

The California Republican confirmed to CNN in a phone interview Monday he was on the White House grounds that day -- but he said he was not in the White House itself. (Other buildings, including the Eisenhower Executive Office Building, are on the same grounds.)

Some Democrats have said Nunes' actions mean he can't conduct an impartial investigation into potential Trump-Russia ties, though House Speaker Paul Ryan said Monday he has "full confidence" Nunes can oversee the probe.

Read more at CNN.

3. Democrats force one-week delay in Gorsuch nomination committee vote

Democrats in the Senate on Monday forced a one-week delay in a committee vote on Supreme Court nominee Neil Gorsuch of Colorado.

Democrats requested a postponement in the vote as expected, said Sen. Chuck Grassley, R-Iowa, the chairman of the Judiciary Committee.

The committee vote on Gorsuch, who sits on the 10th U.S. Circuit Court of Appeals in Denver and lives in Boulder, will be held April 3.

Read more at Fox.

4. Push for Internet Privacy Rules Moves to Statehouses

Now that Republicans are in charge, the federal government is poised to roll back regulations limiting access to consumers’ online data. States have other ideas.

Should they be passed into law, these rules could end up guiding the rights of consumers far beyond Illinois — because they would provide a model for other states, and because it would be difficult for technology companies with hundreds of millions of users to create a patchwork of state- and country-specific features to localize their effects.

Read more at The New York Times.

5. ICE quietly updates rule to make it easier to detain even more immigrants

Immigration officials have issued a new "detainer form" that could sweep up even more undocumented immigrants into the Trump administration’s deportation force.

The previous detainer policy recommended ICE officials issue detainers when an undocumented immigrant had a prior conviction, like a felony, three or more misdemeanor convictions, or had been caught illegally re-entering the U.S. after being deported.

The new detainer policy, set to go into effect April 2, 2017, includes no detailed guidance, which means ICE could send local police a detainer for any "subject" they believe “is removable from the United States.”

Read more at Fusion.

— Asha Sanaker

(Photo Credit: Public Domain)

Countable

Written by Countable

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(19)
  • Pat
    03/27/2017
    ···

    The Dow is falling and world stock markets are going to be affected because this president does not understand policy or how insurance works. He is not competent to be president and neither is his cabinet except for mad dog Maddis. The possible Russian involvement and collusion of Trump and his transition team cast doubt worldwide. Tax cuts for the top 3% wealthiest individuals were list when Ryan did not have the votes to repeal the ACA and only had draconian cuts. The budget will not pass. Trump is spending money on his weekend trips and cuts needed programs. Totally incompetent as a president and is a pathological liar. The whole world is watching and it is embarrassing as an American!

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  • meckler99
    03/28/2017
    ···

    The problem with health insurance is the pricie gouging of the underlying health care services, treatments and remedies. When an overnight stay is $5000 for a shared room and a nurse just to monitor blood pressure? A wrist splint billed at $235? Tweezers for $125? Hospitals and providers will not come to the table because they are sitting on cash machines. They charge so much simply because they can. If a child breaks an arm, the X-ray and setting that an army field medic can do for $100 cost gets billed to insurance at $1850. Only if we audit and regulate these prices, just as we do water and electric, will the insurance price algorithms will produce affordable plans.

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  • Ray
    03/28/2017
    ···

    This market slide is due to uncertainty, not a sudden rejection of Obamacare since the market posted record gains during the entire existence of Obamacare. until now. It appears to be a response to a failure of leadership and consistency (unpredictability).

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  • Eileen
    03/28/2017
    ···

    Republicans have had years to fix this bill but instead just railed about it and did nothing. What they came up with was shameful! They never included Democrats in their compromise discussions. Next comes tax reform - more corporate tax relief. Funny thing our economy was on the road to recovery before Trump starting screwing things up!

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  • Richard
    03/28/2017
    ···

    People actually think this bill was an attempt to fix healthcare. Give me a break. You don't really believe all that Republican spin about how it will make things better and lower prices do you. This bill was only about 800 billion in tax savings later lowered to 500 billion and then raised the night before by taking 10 coverages out of it. By doing this the bill it would have paid for some of the tax cuts in the next up on Trump and Ryan agenda. Everyone was lied to and everything was done in a behind the door closed sneaky manner. Now we know why. Just reassured my mis trust of Trump and Ryan. If anyone out there thinks Trump is out to help the little guy, then they are just being blind and in denial. What will it take for people to wise up. I don't believe there are still people out there defending this pile of crap they called a healthcare bill. The worst part is we all have to be really on our guard because this isn't over yet. Just wait and see what they try to do with tax cuts.

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  • VSB
    03/28/2017
    ···

    The Dow is dropping due to the uncertainty of the market, which is directly related to this president's lack of credibility! I am surprised it took this long! As for ICE having no guidelines as of 4/2/17 to detain and send anyone that is undocumented back to their country of origin should not be a surprise. This president does not want to have anyone else in this country no matter whether they pose a risk to the US or not. This is part of his nationalist message to exclude others to reduce multiculturalism (Brannon's idea no doubt). Also I oppose the new FCC rules to overturn privacy rules, I oppose and encourage my representatives to as well! This administration continues to be appalling!

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  • Pat
    03/27/2017
    ···

    My internet activity is my private information. My banking, shopping. Paying my bills in line belongs to me. My medical records are mine. I am untitled to privacy. Vote against this law.

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  • RichardH
    03/28/2017
    ···

    The ACA or the GOP plans are merely providing access to insurance and do not address the catastrophic costs and spiraling debts associated with healthcare delivery. It seems preposterous that there is no meaningful legislation targeting the rampaging costs of medical treatment and pharmaceuticals. Until we address this issue, our access to affordable healthcare will become further out of reach.

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  • Norm
    03/28/2017
    ···

    What I want to know is, had the republicans and democrats come together like friends, rather than dare I say "two bozo's," we would have a bill for the people and by the people. The market would be fine. This story of the democrats and republicans being right or wrong is old. I don't want the king of the hill, I want something else for all of us -- not the few. I don't know what that looks like but I surely don't like the shameful behavior from republicans and Trump.

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  • Lou-KY
    03/28/2017
    ···

    CEASE AND DESIST IMMEDIATELY FROM ANY AND ALL CONGRESSIONAL BUSINESS UNTIL YOU HAVE THE RESULTS FROM AN INDEPENDENT INVESTIGATION WITH AN INDEPENDENT SPECIAL PROSECUTOR THAT YOU APPOINT TO INVESTIGATE AND PROSECUTE TRUMP HIS CABINET AND ANY CONGRESS PEOPLE FOR ANY CRIMINAL OR TREASONOUS TIES TO RUSSIAN INTERFERENCE IN OUR GOVERNMENT!

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  • Eric
    03/28/2017
    ···

    Congress has no skin in the game! They will never fix the problem of healthcare as long as they and their family are subsidized.

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  • Michael
    03/27/2017
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    Sounds like another reason everyone should have left the ACA alone in the first place except for alterations making it universal single payer health care.

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  • Raymond
    03/28/2017
    ···

    This is what happens when you speculate on a bullshit artist. The American citizenry needs to be careful not to become a ruse in propping up Trumps delusions in order to maintain economic security. This hopeful optimism in Donald Trump is just a large sector of our society in denial of having made a big mistake. In the mean time there are those making a fortune buying and selling stocks based on the slow realization that Donald Trump is a con man. As the American dream fades into a living nightmare many will prosper, unfortunately at the expense of our 401k's and the American way of life. Your job as my Rep is to stop this fool, legislate him into ineffectiveness, while investing any impeachable acts. Come on guys this is bigger then party, this is America!

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  • Beverly
    03/27/2017
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    Come on Congress! Get back to the table and deal with healthcare.

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  • Pat
    03/27/2017
    ···

    Nunes should recuse himself. He was on Trump's transition team. He went to Paul Ryan and Trump about info he received on White House grounds and did not share info with Intel Committee. He cancelled hearing with Brennan, Clapper and Yates. What does he know and doesn't want Americans to know. Why is Paul Ryan still expressing confidence with Nunes? It is time for an independent investigation!

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  • Marilyn
    05/15/2017
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    Congressional members should not be allowed to buy / sell stocks. The ethical breaches in this practice are too frequent.

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  • James
    03/28/2017
    ···

    All I can say is the art of the steal is in full play with this pathological Liar, and an incompetent Congress that are only interested in benefitting their personal income and that of their corporate donors. Stop all legislation until a full independent bipartisan investigation is conducted. Nunez has already proven himself untrustworthy and needs to recuse himself or step down! We are tired of this charade of an inept circus of clowns.

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  • Michael
    03/28/2017
    ···

    Why can't democrats and republicans agree to allow insurance companies to compete over state lines. Are republicans more interested in doing what they can to make ACA explode to further trumps agenda.

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  • Brennan
    03/28/2017
    ···

    Forget a compromise... socialized healthcare is not a solution at all.

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