House Speaker Nancy Pelosi is expected to announce her support for impeachment proceedings against President Donald Trump later Tuesday, according to reports. Pelosi appeared to suggest that much at an afternoon event in Washington. Speaking at the Atlantic Festival, Pelosi said: "That's why I've said as soon as we have the facts, we're ready. Now we have the facts, we're ready ... for later today." Her remark came in response to a question about the possibility of an impeachment inquiry against the 45th U.S. president. Pelosi's comment come amid reports from NBC, CNN and the Washington Post that she would back impeachment proceedings, which she had thus far steadfastly rejected. Pelosi plans an announcement at around 5 p.m. Eastern time, after a meeting with Democratic lawmakers. Fresh calls for Trump's impeachment have been prompted by reports that the U.S. president pressed Ukraine's leader to investigate former Vice President Joe Biden and his son, Hunter Biden. The phone call has been at least in part the subject of a whistleblower complaint, according to the Washington Post. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.78% , the S&P 500 index /zigman2/quotes/210599714/realtime SPX 0.00% and the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +2.21% on Tuesday were all trading sharply lower. Trump said he had authorized the release on Wednesday of a transcript of his call with Ukrainian President Volodymyr Zelensky, while the administration continues to block the release to Congress of the whistleblower complaint. To be sure, impeachment doesn't translate directly to removal from office. Bill Clinton was impeached by the House in 1998 but acquitted by the Senate. Clinton's impeachment had very little impact on the stock market.
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Trump approves Ukraine call transcript release as Pelosi readies impeachment inquiry