US congressman officially calls for Trump impeachment

The US President has faced intense scrutiny this week following the release of a memo from former FBI chief James Comey, which reportedly shows Trump asking for the FBI investigation into his campaign’s links with Russia to be dropped.

The New York Times claimed the memo was written by Comey, who was sacked last week by Trump, and recorded the moment the President told the intelligence boss to drop the investigation into former national security adviser Michael Flynn.

Texas representative Green spoke on the floor of the House on Wednesday, calling for Trump’s impeachment on grounds of obstruction of justice.

"This is about my position. This is about what I believe. And this is where I stand. I will not be moved. The President must be impeached," Green said.

PRESSURE GROWS

Republican lawmakers have also shown signs of growing impatience with the Trump administration as pressure intensifies, woth some of them backing calls for a special prosecutor to intervene in the Russia investigation.

House Oversight Committee chair Jason Chaffetz said Comey’s memo was enough to “raise questions as to whether the president attempted to influence or impede the FBI’s investigation.”

Global stock markets were impacted on Wednesday, including the three major US indices, as the possibility of Trump’s impeachment rears its head.

CMC Markets analyst David Madden asserted that investors may be quick to sell following the boost seen by markets in the months following Trump’s victory.

"Throughout the day the chatter of Donald Trump being impeached was largely confined to social media, but now that Congressman Al Green of the Democratic Party has called for it, traders are taking it more seriously. There was so much bullish sentiment behind Trump’s economic policies, but now that he may not even be around to execute them, investors are scrambling to get out," Madden said.