'U.S. House Ethics Chairman To Move To Expel Representative Santos' - Fox News
Portfolio Pulse from Benzinga Newsdesk
House Ethics Committee Chairman Rep. Michael Guest plans to file a resolution to expel Rep. George Santos from Congress after an ethics report accused Santos of using campaign funds for personal purposes and engaging in fraudulent conduct. The vote is expected after the Thanksgiving break on Nov. 28.
November 16, 2023 | 3:39 pm
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NEUTRAL IMPACT
The move to expel Rep. Santos may cause temporary uncertainty in the market, potentially affecting the SPDR S&P 500 ETF Trust (SPY) as it reflects the broader market sentiment.
While the expulsion of a single representative is a significant political event, it is unlikely to have a direct impact on the broader market or the SPY ETF. However, political instability can sometimes cause temporary market uncertainty.
CONFIDENCE 70
IMPORTANCE 20
RELEVANCE 10