Stimulus talks have slowed but have not ended. The market sell-off this morning might have a little to do with the fact that economic stimulus is not coming any time soon.
We have seen SPY rally when it looked like stimulus was coming and we have seen SPY sell-off when it looked like stimulus was being delayed.
House Speaker Nancy Pelosi said she expects to hear from the White House on Monday on updated language on a coronavirus relief measure. White House economic advisor Larry Kudlow joins “Squawk Box” to discuss the latest on the stimulus stalemate in Washington.
SPY is currently falling near lower trend line support at around $340. If $340 is broken, it would be the break of a major support line that extends all the way back to the March pandemic sell-off lows.