Donald Trump sparked a panicked sell-off in the stock markets Tuesday afternoon when he tweeted that he would not allow talks on a stimulus plan ahead of the November elections.
In a series of tweets sent from the White House residence where he is still using drugs to fight his COVID, Trump canceled talks with Nancy Pelosi about a multi-trillion aid package, saying: “Immediately after I win, we'll be giving Bill a major incentive that will focus on hardworking Americans and small businesses. & # 39;
He forbade White House Chief of Staff Mark Meadows and Treasury Secretary Steve Mnuchin to cut the deal – instead calling on Mitch McConnell, the Senate majority leader, to look to the appointment of Supreme Court nominee Amy Coney Barrett focus.
The Dow Jones plunged more than 300 points in minutes to close 375 points. Traders had thought a deal was near – and the Federal Reserve chairman earlier in the day called more stimulus than essential.
Pelosi slammed Trump, saying he was putting himself first "at the country's expense, with the full complicity of GOP members of Congress".
She was on a conference call with the House Democratic Caucus when Trump's tweet cut off stimulus talks.
The spokesperson suggested that Trump's thinking could be influenced by the steroids he takes. Doctors also raised concerns about its side effects.
“There are people who have thought that steroids have an impact on the way you think. Well, I don't know, ”said Pelosi, according to Politico. "I practice medicine on the side without a degree, as a mother and grandmother, but I hadn't gone into mental health yet."
Selling: How the Markets Reacted to the News
Is it stable? Dr. Ashish Jha, dean of the School of Public Health at Brown University, told Fox News that up to 40 percent of people who use Trump steroids experience short-term psychological side effects such as arousal
Is it the steroids? Nancy Pelosi told Democratic lawmakers that Trump's actions may be due to the drugs he is using
You and Treasury Secretary Steve Mnuchin last spoke about the negotiations in an hour-long phone call on Monday. They spoke briefly again on Tuesday at 3:30 p.m., where Mnuchin informed the speaker that "the president has refrained from the COVID talks," said Pelosi spokesman Drew Hammill. Pelosi expressed disappointment with the president's decision to abandon the economic and health needs of the American people, he added.
Republican Senate Chairman Mitch McConnell said he approves the president's decision.
"Well, I think his view was that they weren't going to produce any result and that we need to focus on what's achievable," he told reporters on Capitol Hill.
Most Republican Senators were unhappy with the price of more than $ 1.5 trillion or more that was in the works.
However, a GOP Senator, Susan Collins from Maine, said the president's decision was a "big mistake".
It is a big mistake to wait until after the election to come to an agreement on the next aid package for Covid-19. I have already contacted the finance minister, one of the main negotiators, and several of my senate colleagues, ”she said in a statement.
Collins is in an uphill battle for re-election. The moderate Republican has distanced herself from the president in recent weeks. She also criticized his decision to appoint a replacement for Judge Ruth Bader Ginsburg at the Supreme Court ahead of the election, although she did not rule out voting for that person if the vote were to reach the Senate before November 3.
At the White House, Trump had spent the morning tweeting that he was feeling "great" and claiming he was on the trail of campaigns.
But he also published a comparison between coroan virus and flu claiming COVID could be "less deadly" than the seasonal virus and said, "We are not closing our country."
It was deleted from Facebook – causing an angry reaction from Trump – and flagged as misleading and potentially harmful by Twitter.
He appeared to be promoting "herd immunity," but as the day wore on, his own federal government appeared to be at the center of a one-man effort to create it.
All but one of the joint chiefs of staff were in quarantine after the Coast Guard member – Admiral Charles Ray – tested positive early last week after a reception at the White House for Gold Star families.
In the west wing, Ivanka Trump stayed away from work, and in the east wing, her stepmother Melania announced hospital-level disinfection.
But Bloomberg reported that Trump requested to go to the Oval Office – feet from the press conference room, which had to be sanitized by workers in hazardous equipment, after press secretary Kayleigh McEnany, who persistently refused to wear a mask to her briefings, and two of her aides tested positive.
The atmosphere of frenzy and fear spread across Washington DC, but it was Trump's state of mind that dominated the conversation.
Trump takes a heavy cocktail mix of medications as part of his treatment plan, including the steroid dexamethasone, which is typically only used when someone needs a ventilator or supplemental oxygen.
He is taking remdesivir, an antiviral drug that is believed to help with recovery.
And he got an 8-gram dose of Regeneron's experimental antibody therapy on Friday before going to the hospital.
Doctors warned Tuesday that the steroid he is being treated with for COVID carries the risk of serious side effects such as mood swings, aggression and confusion.
Trump's medical team said Sunday the president was started on dexamethasone, a generic steroid that has long and been widely used to reduce inflammation related to other diseases. The steroid was started after Trump experienced low oxygen levels.
Dr. Ashish Jha, dean of the School of Public Health at Brown University, told Fox News, "We are definitely seeing quite a significant impact in 30-40 percent of people … (of) fear, anxiety."
Trump has been driving a passing motorcade in front of Walter Reed Hospital since Sunday, was discharged from the hospital and then flown back to the White House with Marine One. Upon arrival, he tore off his mask and recorded a video telling people about his COVID treatment: "Maybe I'm immune."
On Tuesday he launched a fusillade of tweets and Bloomberg reported that he was demanding that he be allowed to go to the Oval Office.
Just a few meters from the Oval Office, the White House press conference area has been thoroughly cleaned as more and more employees tested positive for the virus. Across the Potomac, the Pentagon was in chaos as all but one of the Joint Chiefs of Staff's chairmen were quarantined for testing positive after attending an event at the White House on Sunday.
The crisis raises questions about national security, and even one of the military aids who followed Trump with the nuclear soccer test, which tested positive, is positive.
When his daughter Ivanka stayed home "out of caution", Mike Pence was in Salt Lake City preparing for a vice presidential debate. His doctor claimed
Studies have shown that patients taking dexamethasone can experience memory and cognitive deficits for just a few days. Corticosteroids – the class of drugs that dexamethasone belongs to – can cause psychiatric side effects in 1.8 to 57 percent of people who take them.
The experts' first concern was that using dexamethasone to treat Trump indicated he was very ill as the $ 6 steroid could be dangerous for people with mild COVID-19.
But because it's been linked to everything from mania to memory problems and aggression to psychosis, some are also concerned that the president's judgment could be compromised as he reportedly continues to work on his illness.
The termination of the business stimulus talks, however, goes deep into the most damaging territory possible for a president whose only route to re-election was through high market numbers and belief in his economic record among swing-state voters.
Accusing him of "unwillingness to destroy the virus," Pelosi said, "He shows his disdain for science, his disdain for our heroes – in health care, in first responders, in sanitation, in transportation, in food workers , Teachers, teachers, teachers and others. " – and he refuses to put money in workers' pockets unless his name is on the check. "
Earlier, Federal Reserve chief Jerome Powell had said the recovery from the pandemic slowdown is "stronger and faster" as more government aid is being used to protect against the possibility of accelerating job losses.
"Too little support would lead to a weak recovery and create unnecessary difficulties for households and businesses," Powell said in an address to an economic conference.
"Even if policies ultimately turn out to be bigger than necessary, they won't be in vain."
Powell, who has long argued that more economic support is likely needed, warned that a slowdown in economic improvements "could trigger a typical recession dynamic, as weakness comes from weakness".
A long period of "unnecessarily slow progress" could further exacerbate existing disparities in the economy, which would be "tragic".
In Congress, Pelosi had proposed a stimulus measure that cost $ 2.2 trillion, but President Donald Trump's administration doesn't want to spend more than $ 1.6 trillion.
While Pelosi began speaking regularly with Treasury Secretary Steven Mnuchin, her Republican counterpart in the negotiations, last week, both sides have to find a compromise against Democratic challenger Joe Biden weeks before Trump's second term.
"Chairman Powell's warning couldn't be clearer: Robust action is needed immediately to avert economic disaster caused by the devastation of the coronavirus pandemic," Pelosi said Tuesday.
The CARES bill, passed in the wake of the March pandemic, included additional weekly payments of $ 600 to the unemployed, as well as a program of loans and grants for small businesses, which expired in early August.
Powell noted the positive effects of both programs on the economy, with a feared spike in small business bankruptcies not happening and many consumers saying their financial well-being improved during the pandemic.
"As it appears that many of them will be unemployed for long periods of time, there is likely a need for further assistance," he said.
And despite early success in preventing job losses, there has been permanent downsizing and layoffs, Powell said.
"There is a risk that the rapid initial gains from the reopening will result in a longer than expected return to full recovery," he added.
Limiting the further spread of the virus will be key to sustaining the economy, the Fed chairman said, including following medical advice on wearing masks and social distancing.
WHAT ARE THE DRUGS TRUMPF TREATED AND WHAT ARE THE SIDE EFFECTS?
President Trump has received at least three effective drugs since announcing he tested positive for COVID-19 on Thursday night: Regeneron's cocktail of lab-made antibodies, the antiviral remdesivir, and the steroid dexamethasone.
Two of these drugs are still experimental for the treatment of COVID-19 and have received emergency approval from the Food and Drug Administration (FDA).
And the White House doctor, Dr. Sean Conley, admitted Monday that he would not disclose every single drug the president is currently receiving (citing laws protecting the privacy of HIPAA patients, suggesting Trump is giving Dr. Conley permission himself has to disclose some of his drugs, but not all of them).
Remdesivir, dexamethasone, and the antibody cocktail are all in ongoing trials – but it's unclear whether anyone other than the U.S. Commander in Chief has ever been treated with all three.
These three drugs are "as far as we know (about the President's regimen) – but I found it all really confusing based on the reports," said Dr. Mark Poznansky, an infectious disease specialist at Massachusetts General Hospital, told DailyMail.com.
When asked if there was a precedent for treating a COVID-19 patient with all three drugs, Dr. Poznansky: "No."
"But the individual decisions are based on the individual patient and all bets are void when dealing with the president, the commander in chief," he added.
"The implication is that doctors believe the risk of using these is outweighed by the potential benefits."
And while we are clear about the possible side effects of each drug, it is a mystery how they might interact, "because they just haven't been used often enough … we don't know about the combination," Dr. Said Poznansky.
But even on their own, the side effects of these drugs could be of particular concern to the President, as the steroid can cause mood swings, confusion, and aggression.
The drugs he's been treated with and their possible side effects are:
REGENERON'S EXPERIMENTAL ANTIBODY COCKTAIL MEDICINAL
IF HE HAS IT: Trump received a single dose of 8 grams of Regeneron's cocktail of laboratory-made antibodies on Friday.
WHAT IT DOES: REGN-COV2 is a combination of two laboratory-made versions of antibodies that prevent coronavirus from entering cells.
One of the antibodies in the "Cocktail" is based on an antibody that mice produce in response to the coronavirus, while the other is based on an antibody that was isolated from one of the first US COVID-19 patients.
The hope is that treatment will lower the viral load, prevent the body from becoming overrun and mess up the immune system, and prevent the infection from becoming serious.
WHAT THE DATA SAY: REGN-COV2 is still in the early stages of study, but initial data from its clinical trial showed that it drastically reduced viral loads within a week and increased recovery time in patients who were not sick enough to be hospitalized halved.
Regeneron has not yet studied the drug in seriously ill patients.
THE POSSIBLE SIDE EFFECTS: The main concern is that these types of treatment occasionally induce "antibody-dependent amplification," which means that the therapeutic intended will actually help the virus enter cells.
So far, the studies do not suggest that REGN-COV2 causes this phenomenon.
Antibody treatments can also cause allergic reactions such as anaphylaxis, as well as fever, chills, nausea, diarrhea, weakness, headache, and low blood pressure.
REMDESIVIR, GILEAD'S ANTIVIRAL MEDICINAL
IF HE HAS IT: President Trump received his first dose of a five-day treatment course Friday night after being transferred from the White House to Walter Reed National Medical Center.
He has since received his second and third doses of the drug.
WHAT IT DOES: Remdesivir is an antiviral therapy that was originally developed to treat Ebola.
Scientists aren't entirely sure why, but it helps prevent the coronavirus from making more copies of itself.
WHAT THE DATA SAY: Late clinical trials with remdesivir found that patients treated with the drug were more likely to recover within 11 days than those who did not receive the drug.
Their chances of survival were 40 percent better. In May, the drug was the first to receive emergency approval from the FDA for the treatment of critically ill patients. This approval has now been extended to all hospital patients.
POSSIBLE SIDE EFFECTS: It can cause nausea, vomiting, chills, sweating, or drowsiness. The drug can also affect liver function, which means patients must be closely monitored.
There was some evidence that Trump's liver and kidney function wasn't optimal last night, but Dr. Conley said Monday the president was just "dehydrated".
DEXAMETHASONE, THE $ 6 STEROID WITH COMMON PSYCHIATRIC SIDE EFFECTS
When he got it: The president was given a dose of dexamethasone on Saturday after developing a high fever and blood oxygen levels falling below 94 percent twice.
WHAT IT DOES: Dexamethasone is a cheap steroid that is known to suppress inflammation. It is already approved for use under other conditions in the United States.
WHAT THE DATA SAY: Although dexamethasone has not yet been approved for emergency use in the US, it is the most promising treatment for coronavirus to date.
In a large UK study, the steroid reduced the risk of death for patients sick enough to need breathing equipment by 36 percent by 18 percent for patients who only need supplemental oxygen.
However, it appeared harmful in earlier stages or in milder cases of illness: 18 percent of drug users died versus 14 percent of usual caregivers.
Because of this, many doctors were alarmed that President Trump was being treated with the drug because its use indicated that he was either very ill or that doctors were taking a risk giving it to him early on.
POSSIBLE SIDE EFFECTS: The steroid is strong and can cause swelling, headache, stomach pain, nausea, weakness, dizziness, trouble sleeping, blurred vision, skin problems, severe allergic reactions including mood changes.
These mood swings include aggression, agitation, and confusion.
"Steroids are always very dangerous drugs," said Dr. Edward Jones-Lopez, an infectious disease specialist at the University of Southern California in Los Angeles, told Reuters.
& # 39; This is why it (dexamethasone) is used in severe to critical patients … There may be neuropsychiatric side effects. These are drugs that we use very, very carefully. & # 39;
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