Donald Trump will refuse to sign the Senate’s version of a stopgap spending bill that would avert a partial government shutdown because it doesn’t include funds he’s demanded for border security, House Speaker Paul Ryan said after a White House meeting with the president.

"We want to see an agreement that protects the border," Ryan told reporters Thursday. "We’re going to go back and work on adding border security to this."

The visit by Ryan and House Majority Leader Kevin McCarthy of California was hastily scheduled after conservative House Republicans revolted and insisted they wouldn’t vote for the Senate’s temporary spending bill because it lacks money for a wall at the border with Mexico.

The House GOP -- set to lose its majority to the Democrats in two weeks -- is counting votes for a new measure that would add the $5 billion in wall funds Trump seeks, said third-ranking House Republican Steve Scalise of Louisiana.

Senate Majority Leader Mitch McConnell of Kentucky has told senators to be prepared for a possible vote on government funding at about noon Friday, according to a person familiar with the matter. The GOP-controlled Senate easily passed the stopgap measure without wall money by voice vote late Wednesday.

Stocks turned sharply lower as the threat of a shutdown increased a day after the Federal Reserve sent shock waves across assets. At one point the S&P 500 tumbled to a 16-month low and the Nasdaq Composite index slumped to the brink of a bear market.

‘Still Time’

Without an agreement to fund the government by midnight Friday, nine departments including Homeland Security will close just before the Christmas holiday. McCarthy said "we believe there is still time" for lawmakers to iron out differences.

Trump’s wall plan generally is supported by Republican voters but a majority of the wider electorate opposes him, polls show. The president hammered on the border security issue in the weeks leading up to the November midterm elections, in which Republicans lost a net 40 seats in the House, turning over control to Democrats.

The president previously said he would be "proud" to shut down the government if he doesn’t get the money. McCarthy said that if the House passed a bill with border funds and the Senate stripped the money back out, "the president wouldn’t sign it."

GOP Senator Chuck Grassley of Iowa, said it’s a "tough question" whether he would vote to override a veto by the president. "I’m in favor of the wall, but I also know it costs money to shut down government, it costs money to open up government and it’s not the smartest fiscal thing to do," he said.

Scalise said that in addition to the wall funds, the House will add about US$8 billion in federal disaster aid sought by some lawmakers to the Senate bill that would keep the government open through Feb. 8.

“ Nancy Pelosi said we don’t have the votes to pass it and we’re going to prove her wrong," Scalise said. He said passage will create a “clear contrast” with Senate.

Pelosi of California, the House minority leader who is expected to become speaker in January, has contended the House GOP doesn’t have the votes to pass a bill with border wall funds. “We’re right in the middle of a sort of meltdown on the part of Republicans,” she told reporters at a news conference Thursday.

‘Not Good!’

Earlier Thursday, a Twitter posting by Trump deepened doubts about the stopgap bill’s fate.

"When I begrudgingly signed the Omnibus Bill, I was promised the Wall and Border Security by leadership," Trump wrote. "Would be done by end of year (NOW). It didn’t happen! We foolishly fight for Border Security for other countries - but not for our beloved U.S.A. Not good!"

Senate Democratic leader Chuck Schumer of New York said regarding the president, "It would be his responsibility for a Christmas shutdown and every single American would know it."

Ryan and his leadership team had begun the day planning to hold floor votes on the Senate’s spending package. But Ryan came under heavy criticism from conservatives during a private party meeting and then was called out to speak to Trump on the phone, several lawmakers said.

Ryan -- who has been busy giving a series of farewell speeches in recent weeks as he plans to leave office -- canceled a scheduled press conference before he and other House GOP leaders were summoned to the White House.

‘Worth Fighting For’

Representative Steve Womack, an Arkansas Republican, said members are tired of leaders making all the decisions without consulting them.

“There’s a lot of people that believe we’ve got unfinished business that’s worth fighting for," he said. “We promised border security.”

Conservative Austin Scott, a Georgia Republican, who has sided with leadership in the past, said he agreed.

“We need disaster relief and we need to secure our border. I am a definitely a ‘no’" on the Senate bill without the border funds, Scott said.

Ryan also is being squeezed by moderate Republicans including Florida Representatives Carlos Curbelo, Ileana Ros-Lehtinen and Tom Rooney, who are seeking federal disaster aid.

Democrats would be in control of the House when the temporary funding expired, giving Trump less leverage in his demand for the US$5 billion. Trump had said he would hold up Democratic priorities like an infrastructure package next year to try to get the wall, but conservatives said the best time to fight is while Republicans still have the majority.

"There is no way this gets any better next year," said House Freedom Caucus Chairman Mark Meadows of North Carolina. "Now is the time to fight."