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House Democrats on Monday sent to the Senate their single impeachment article against Donald Trump.

This now means that the former president is formally on trial for the role that he played in the deadly attack by Trump supporters on the Capitol earlier this year,

Senate leaders have agreed to postpone the start of the public trial until the week of Feb. 8 giving time for other pressing presidential matters before the Senate becomes consumed by the highly contentious impeachment trial. 

“There is only one question at stake — only one question that Senators of both parties will have to answer, before God and their own conscience: Is former President Trump guilty of inciting an insurrection against the United States?” Chuck Schumer said.

Market implications

While there is little for which would affect markets in the immediate future, it will have longer-term implications for the midterm elections in 2022.

If Trump is convicted, the Senate could vote to bar him from holding office ever again, potentially upending his chances for a political comeback.

On the other hand, impeachment might sharpen the already big divide between Republicans and Democrats, making legislation more difficult to pass.