Senate fails to advance coronavirus aid bill as talks continue
The Senate on Monday failed to advance a massive aid plan aimed at cushioning the economic impact of the coronavirus. Senate Democratic Leader Chuck Schumer had called the procedural vote "irrelevant" as talks were ongoing between Democrats, Republicans and the Trump administration. He characterized talks as having gotten "close" to an agreement, echoing an earlier assessment by Treasury Secretary Steven Mnuchin. U.S. stocks fell sharply again Monday as lawmakers continued to negotiate and as the Federal Reserve said it would buy unlimited amounts of Treasurys and mortgage-backed securities to support the financial markets.