On Wednesday, Donald Trump tweeted that “the Democrats should apologize to the American people” for initiating the impeachment inquiry against him. And on his discussion with Ukrainian president Volodymyr Zelensky, Trump tweeted, “When I said, in my phone call to the President of Ukraine, ‘I would like you to do US a favor though because our country has been through a lot and Ukraine knows a lot about it.’ With the word ‘us’ I am referring to the United States, our Country.”
Trump said whereas that the Democrats have emphasized his phone call with Zelensky as a major point, he thinks there’s no point at all. Trump has criticized the impeachment several times through his tweets. On December 2, he called the impeachment trial a “hoax.” He tweeted, “Radical Left has NO CASE. Read the Transcripts. Shouldn’t even be allowed. Can we go to Supreme Court to stop?”
Zelensky has denied quid pro quo during with Trump call, which Trump has suggested is enough evidence to drop the impeachment trial. “The Do Nothing Democrats should finally go back to work!” tweeted Trump.
Trump impeachment trial: Impact on markets
Though there were fears of the Trump impeachment inquiry hitting stock markets hard, that hasn’t been the case. On the contrary, the S&P 500 (SPY) has risen 4.9% since September 24, the day the trial began. Meanwhile, the Dow Jones has climbed 3.1%. One of the reasons for markets’ indifference to the inquiry could be the previous calls to impeach Trump.
Meanwhile, the impeachment inquiry proceedings continue. The House Judiciary Committee heard testimony from constitutional law experts on Wednesday, reports CBS News. Three of the four experts believe Trump committed impeachable offenses.
Committee Chairman Jerry Nadler called the inquiry unprecedented. “Never before in the history of the republic have we been forced to consider the conduct of a president who appears to have solicited personal political favors from a foreign government,” Nadler said.
There seems to be a fair chance the inquiry could be dropped. However, if it isn’t, markets may finally react. To learn more, read Dow Jones: Can Trump Subdue a Santa Claus Rally? and Trump Impeachment: Cramer and Wall Street Weigh In.