Sep 25, 2017

Cruz still a "no" on Graham-Cassidy

Sen. Ted Cruz currently wouldn't vote for the Graham-Cassidy bill. Photo: Jose Luis Magana / AP

Sen. Ted Cruz still is not a "yes" vote on the Graham-Cassidy health care bill, according to a Cruz aide, despite changes made in a new version of the legislation released publicly Monday morning. These changes include more conservative regulatory provisions. It's not clear why Cruz doesn't support the bill at this time.

Why this matters: Cruz is the third Republican senator to say he opposes the bill. It only takes three to kill it.

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Wall Street notches worst week for stocks since 2008

Traders work on the floor of the New York Stock Exchange. Photo: Scott Heins/Getty Images

Stocks closed down about 1% on Friday, ending the worst week for Wall Street since the financial crisis.

Why it matters: The stretch of declines came after a spike in coronavirus cases around the world earlier this week. The steep losses prompted questions about the fate of the record-long economic expansion, as well as a rare statement from the Federal Reserve.

Go deeper: The growing coronavirus recession threat

Federal Reserve: Coronavirus poses "evolving risk" to the economy

Federal Reserve chairman Jerome Powell. Photo: Sarah Silbiger/Getty Images

Federal Reserve chairman Jerome Powell took the rare move Friday of issuing a statement meant to reassure investors, one that opened the door to a possible interest rate cut.

Why it matters: The Fed rarely issues statements like this outside of policy meetings and scheduled public appearances. It came as the stock market continues its steep decline this week. Stocks briefly pared some losses after the 2:30 p.m. EST statement came out.