Market Wrap: Dish Network and Fox Impasse, Trump News Drops Stock Market

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U.S. stocks closed Thursday's session in red as news out of Washington D.C. continues to drive the action on Wall Street. 

The Ukraine whistle blower scandal at the heart of the impeachment inquiry into President Donald Trump is gaining steam, increasing the possibility that the U.S. House of Representatives will start impeachment proceedings against the president. 

Markets ended Wednesday's session on an uptick after Trump said that a resolution of the trade war with China that has been going on for over a year could be close. 

Meanwhile, Pay-television operator Dish Network (DISH) - Get Report and Fox Corp. (FOX) - Get Report have reached an impasse in their rate negotiations.

Dish said on Thursday that Fox networks will be blacked out in 17 markets across 23 states and Washington, D.C.

Football fans will take a big hit if the dispute is not resolved this weekend, with the National Football League week 4 schedule and college Football's week 5 contests set to get underway this weekend.

Dish Network said that Fox blocked Dish customers' access to the channels. A Fox spokeswoman told TheStreet that Fox officials sent a letter Thursday morning to Dish, looking to extend negotiations and avoid a blackout. 

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