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China Fund News Taylor

Brothers and sisters, it’s lively in the United States tonight. The Nasdaq index continues to plunge, and Biden has been "collectively forced to abdicate"!

Is Biden really going to withdraw from the election?

According to the AXIOS website, several senior US Democratic Party officials believe that US President Biden may decide to withdraw from the 2024 presidential election as early as this weekend.

Biden, 81, is currently in self-isolation due to COVID-19, and publicly remains committed to continuing his campaign. But privately, Democrats say he feels tremendous pressure and poor poll results make it impossible for him to continue his campaign.

It is reported that senior Democratic leaders, friends and major donors believe that Biden cannot win, cannot change the public's perception of his age and mental condition, and cannot secure a majority in Congress.

Biden has been told by allies that if he insists on running, former President Trump could win in a landslide, which would erase Biden's political legacy and destroy Democratic hopes in November.

Former House Speaker Nancy Pelosi, the mastermind behind removing Biden from the race, told him he could ruin the Democrats' chances of retaking the House.

Pelosi recently told Biden in a private conversation that polls show the president cannot beat Trump and that if Biden continues to seek re-election he could ruin the Democrats' chances of winning the House in November, according to four sources.

Biden pushed back on Pelosi on the call, telling her some polls he had seen showed he could win, a source said.

Pelosi caused an uproar last week when she said in an interview: "It's the president's decision whether to run. We are all encouraging him to make a decision because time is running out."

Additionally, Senate Majority Leader Chuck Schumer bluntly told Biden it would be better if he dropped out of the race, and House Minority Leader Hakeem Jeffries told Biden that his run jeopardized the Democratic Party's hopes of controlling both chambers of Congress, according to The Washington Post.

After being diagnosed with the new coronavirus on Wednesday, Biden's condition seemed to be unable to get worse. One day before the diagnosis of the new coronavirus (July 16), Biden said in an interview with the media that if the doctor said he had health problems, he would re-evaluate his decision to continue to participate in the presidential campaign. This statement is the first time Biden has said that he would consider withdrawing from the presidential campaign due to his health.

At the White House, spokesman Andrew Bates insisted Biden was giving it his all.

Biden's plight contrasted with scenes from the Republican convention, where Republican nominee Donald Trump showed off his bandaged ear as he gave his speech on stage.

Trump's response to the shootings has become iconic, energizing supporters and refuting skeptical voices within the Republican Party. The events have heightened the sense that the two campaigns are heading in opposite directions: one is rising, the other in disarray.

US stocks plunge

As Biden's news gradually fermented, the three major U.S. stock indexes all plunged, with the Dow Jones Industrial Average falling more than 200 points and the Nasdaq falling more than 1%.

Apple fell sharply.

Chip stocks started strong, but plunged half an hour after opening. TSMC's US stocks fell nearly 3%. TSMC just released its second quarter 2024 financial report, with sales, net profit, and gross profit margin all exceeding expectations. For details, please click the link on the right: