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MarketWatch photo illustration/Getty Images President Donald Trump says House Speaker Nancy Pelosi and Democrats are “declaring war” on American democracy with their impeachment effort, in a letter the California Democrat called “really sick.”
President Donald Trump is on the verge of becoming the third U.S. president in history to be impeached by the House of Representatives on Wednesday, as Democrats seek to charge him with abusing his power and obstructing Congress.
Kicking off what promises to be a lengthy day of bitter partisan debate, Republicans tried to block the proceedings, in a motion that was voted down by Democrats. Final votes on the two articles of impeachment are expected late Wednesday, perhaps during the same time Trump holds an evening rally in Michigan.
Wall Street appeared to be ignoring the impeachment drama in Washington, with the Dow Jones Industrial Average DJIA, +0.13% gaining more than 20 points and investors hoping to extend five days of gains.
Read: Stocks amble higher as bulls look to extend winning streak.
Democrats are seeking to impeach Trump over what they call his abuse of power by withholding aid to Ukraine to pressure Kyiv to announce investigations that could politically benefit him. Democrats also charge Trump with obstruction of Congress.
Now see: House Judiciary Committee approves articles of impeachment against Trump.
If the House votes as expected to impeach the president, a trial begins in the Republican-controlled Senate. Senate Majority Leader Mitch McConnell, a Kentucky Republican, told Fox News last week that there is “no chance” Trump will be removed from office.
Trump has consistently denied wrongdoing, slamming Democrats’ impeachment effort as a sham and a “witch hunt.” Tweeting Wednesday morning, he said, “Read the Transcripts,” referring to records of conversations with Ukrainian President Volodymyr Zelensky. “This should never happen to another President again. Say a PRAYER!”
House Speaker Nancy Pelosi formally opened the impeachment inquiry on Sept. 24. In a letter to the California Democrat on Tuesday, Trump said she and her party were “declaring war” on American democracy. Pelosi called the president’s six-page letter “really sick.”
As the House was debating Wednesday morning, the yield on the 10-year U.S. Treasury note TMUBMUSD10Y, +2.65% rose slightly and the U.S. dollar DXY, +0.11% was up against a basket of its major rivals.
