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The US President Donald Trump’s administration is refusing to accept Democrats’ testing plan as part of the coronavirus relief bill, House Speaker Nancy Pelosi said on Monday, as reported by Reuters.

According to several news outlets, sides haven’t been able to make enough progress to reach an agreement and Pelosi is expected to talk to Treasury Secretary Steven Mnuchin around 1800 GMT.

Market reaction

Safe-haven flows continue to dominate financial markets on Monday. As of writing, the S&P 500 Index was down 2.5% on the day at 3,379 and the Dow Jones Industrial Average was losing nearly 3% at 27,493.