President Donald Trump desperately tried to blame Democrats for the stock market losses that have occurred this week during his coronavirus news conference, only for it to backfire.
The stock market suffered losses of nearly 2,000 points on Monday and Tuesday alone due to fears that the outbreak won’t be contained. So far, there are over 80,000 cases worldwide and thousands have died in China.
Trump, of course, hasn’t helped by insisting that everything is under control as health experts sound the alarm to prevent the pandemic from spreading even further.
Clearly panicking more over the stock market than about the deadly virus, Trump held a news conference on Wednesday evening in an attempt to stop the bleeding, only to make things worse by his incoherence and blaming the Democrats for the stock market dip.
“I think the financial markets are very upset when they look at the Democrat candidates standing on that stage making fools out of themselves and they say if we ever have a president like this — and there’s always a possibility, it’s an election,” he said. “Who knows what happens. I think we’re going to win. I think we’re going to win by a lot. But when they look at the statements made by the people standing behind those podiums, I think that has a huge effect.”
Here’s the video via DailyMotion:
Of course, the Democratic debate did not take place until Tuesday night after the Dow Jones had closed, meaning Democrats had nothing to do with the losses on Monday and Tuesday. In the meantime, Dow Futures were in the green prior to Trump’s news conference only to tumble into negative losses during his remarks.
Clearly, Trump’s news conference did not instill confidence in Wall Street that he is doing a “great job” handling the coronavirus outbreak. And his poor response so far is precisely why the stock market has taken a dive this week.
Featured Image: Screenshot