Protesters supporting Donald Trump swarmed the U.S. Capitol on Wednesday, putting it on lockdown, as Vice President Mike Pence rebuffed the president’s demand to overturn his loss to Democrat Joe Biden and the Senate’s Republican leader denounced a bid in Congress to undo the election outcome.
On the same day a runoff election in Georgia looked set to put control of Congress in Democratic hands, Trump supporters overturned barricades and clashed with police on the U.S. Capitol grounds and streamed inside the building. The demonstrations flared as lawmakers met inside to formally certify Biden’s victory over Trump in the Nov. 3 election. Law enforcement authorities struggled to maintain order.
On Wall Street, the S&P 500 pared solid gains closing up 0.6% and the Nasdaq turned lower as the mob, dotted with Trump’s red Make America Great Again ball caps, moved inside the building. Yields on U.S. Treasury securities ticked down and the U.S. dollar index turned slightly lower.
COMMENTS:
JAMIE DIMON, CHAIRMAN AND CEO, JPMORGAN CHASE
“I strongly condemn the violence in our nation’s capital. This is not who we are as a people or a country. We are better than this. Our elected leaders have a responsibility to call for an end to the violence, accept the results, and, as our democracy has for hundreds of years, support the peaceful transition of power. Now is the time to come together to strengthen our exceptional union.”
PAUL NOLTE, PORTFOLIO MANAGER, KINGSVIEW INVESTMENT MANAGEMENT, CHICAGO
“When that all got started, we saw the market sell off a little bit. It has kind of bounced some. So there is some sensitivity to what is going on in Washington, but I don’t think it’s long term. I don’t think the protesting will be long term, so I don’t envision that the market reaction will be much more than what we have already seen.”
LETITIA JAMES, NEW YORK ATTORNEY GENERAL (email)
“The coup attempt initiated by outgoing President Trump has been despicable. Today, it became violent. If blood is shed, it will be on his hands. These actions, fueled by lies and wild conspiracy theories espoused by President Trump, must be unequivocally condemned by every corner of our society.
“Ultimately, I am confident the rule of law will prevail. Joe Biden, our duly elected president, will assume office on January 20th and history will remember this as a sad but unsuccessful attempt to destroy our democratic republic.”