So much for market upside.
Major indices are plunging after House Speaker Nancy Pelosi said she will make an announcement on potential impeachment.
“Later today I will make an announcement after I meet with my chairmen, my leadership and my caucus,” she said, as quoted by CNBC.
At this time, more than a dozen Democrats have asked for impeachment over the last week, following reports that President Trump asked Ukraine President Volodymyr Zelensky to investigate Joe Biden’s son.
Roughly two-thirds of the House Democratic caucus reportedly supports impeachment.
In addition, Biden is expected to say that if Trump does not comply with congressional inquiries, then lawmakers have no choice but to push for impeachment. Also, seven Democratic lawmakers say that if President Trump pressured Ukraine’s president to investigate Biden for political benefit, it’s impeachable, and they “do not arrive at this conclusion lightly,” as quoted by Reuters. They also call the allegations “a threat to all” they’ve sworn to protect.
President Trump has denied all wrongdoing with Ukraine.
Stay tuned for more on this developing story.