Stocks Slide After Manchin Confirms ‘Build Back Better’ Bill Is “Dead”

Having experienced the usual BTFD bounce this morning after opening weakness, US equity markets are sliding after reports that Senator Joe Manchin has unequivocably stated that President Biden’s Build Back Better bill is “dead.”

Sen. Joe Manchin, asked about Build Back Better, said: “What Build Back Better bill? I don’t know what you guys are talking about.”

I asked him if he’s had any talks on the matter since December. “No, no, no, no. It’s dead.”

— Manu Raju (@mkraju) February 1, 2022

We are not exactly sure what the market was expecting but this was enough to send stocks lower…

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