This weekend West Virginia Senator Joe Manchin effectively shut down President Biden’s “Build Back Better” plan by saying he would oppose it. However, Manchin and Biden spoke on the phone Sunday evening and may continue negotiations on the bill next year (Politico).
Major Stock Market Selloff
The major market indices sold off sharply Monday as the new Covid variant Omicron roiled the market along with investors running up to the December 31st deadline to book tax losses for the calendar year. The Dow is down 1.5%, while the Nasdaq is down 1.29% and the Russell 2000 has taken over a 2% hit today. (NNL)
Two Senators Tests Positive for Covid
Senator Elizabeth Warren has tested positive for the coronavirus. Warren, who tested positive along with Senator Cory Booker, has been boosted. Both Senators were experiencing mild symptoms. (NNL)
US Accuses Chinese Tech Firms of Weaponizing Biotechnology
The Biden administration blacklisted several Chinese government research institutes and private-sector companies. They accuse them of weaponizing technology to use abroad and at home. (ABC)