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US President Donald Trump tweeted out on Tuesday that he will be allocating $2.96 billion in Emergency Solutions Grants to support “homeless Americans and those at risk of becoming homeless because of job or wage loss, or illness due to COVID-19.”

“We are taking care of our Nation’s most vulnerable citizens,” Trump concluded.

Market reaction

Wall Street’s main indexes staged a modest rebound following these comments. As of writing, the S&P 500 was down 0.4% on the day, the Dow Jones Industrial Average was losing 0.65% and the Nasdaq Composite was gaining 1%.

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