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Trump Reportedly Furious About Stock Market Plunging on Coronavirus Fears

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The Last Outlaw
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PostThe Last Outlaw on Wed Feb 26, 2020 12:38 pm

Trump Reportedly Furious About Stock Market Plunging on Coronavirus Fears IlWna

From CNBC

Pippa Stevens of CNBC wrote:President Donald Trump is reportedly furious that stocks have been plunging, believing that health officials' warnings have spooked investors, The Washington Post reported Tuesday night, citing two people familiar with the president's thinking.

Trump Reportedly Furious About Stock Market Plunging on Coronavirus Fears AAI41XZ

The president has reportedly cautioned aides against forecasting the impact of the virus over fears that stocks could fall further, The Washington Post said.

Stocks plunged Tuesday, with losses accelerating after health officials warned that the coronavirus is "likely" to continue to spread throughout the United States, warning that the American public should "prepare for the expectation that this is going to be bad."

"Ultimately we expect we will see community spread in the United States," Dr. Nancy Messonnier, the director of the CDC's National Center for Immunization and Respiratory Diseases, told reporters on a conference call.

The Dow and S&P 500 dropped more than 3% on Tuesday, for the indices worst 2-day drops since Feb. 2018 and Aug. 2015, respectively.

Stocks came under pressure even after National Economic Council Director Larry Kudlow said the coronavirus-triggered selloff has created a buying opportunity for long-term investors. "The virus story is not going to last forever," Kudlow said on CNBC's The Exchange.

"To me, if you are an investor out there and you have a long-term point of view I would suggest very seriously taking a look at the market, the stock market, that is a lot cheaper than it was a week or two ago." He also reassured investors that the U.S. has "contained" the coronavirus and it will likely not be an "economic tragedy."

On Monday the president tweeted that the coronavirus is "very much under control in the USA" and that the stock market is "starting to look very good."



Trump is expected to meet with aides Wednesday to discuss the matter, The Washington Post said.

The White House did not immediately respond to CNBC's request for comment.

Open mouth, insert foot. It's never a good sign when the stock markets begin selling off amid a major health scare. Maybe... Never mind. Donald Trump never thinks before he speaks. Whatever comes out of his mouth, it's out there.

As of this post, here is the latest report from Wall Street:

Dow Jones Industrial Avg: 26,960.03
-121.33 (-0.45%)


S&P 500: 3,119.27
-11.69 (-0.37%)


NASDAQ: 8,980.77
15.16 (+0.17%)


Just Saying.
Trump Reportedly Furious About Stock Market Plunging on Coronavirus Fears I6goy

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