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The Guardians of Democracy

Trump Just Blamed Monday’s 1,031 Point Stock Market Crash On Tuesday’s Dem Debate


Trump Just Blamed Monday’s 1,031 Point Stock Market Crash On Tuesday’s Dem Debate

President Donald Trump on Wednesday blamed this week’s stock market crash on a Tuesday night Democratic Debate that occurred hours after The Dow Jones Industrial Average DJIA had tumbled more than 1,911 points over a two-day period.

On Monday, the DJIA plummeted 1,031.61 points, or 3.5% and gave up all of its gains for the year. The decline marked the second-biggest daily point drop for the DJIA, -3.56% in its 124-year history. U.S. stocks fell sharply in early trading Monday, following a broad sell-off in overseas markets, as a surge in COVID-19 virus cases were reported outside of China, notably Italy and Iran, threatening to dent global supply chains and economies. Trump declared that the stock market is “starting to look very good” in response to the near-record drop.

On Tuesday, the index slid another 879.44 points, 3.2%, to settle at 27,081.3. The markets closed at 4 p.m. EST, nearly 4 hours before the start of Tuesday’s Democratic Debate.

“You mentioned the stock market earlier, to go back to that, to be clear, the Dow Jones dropped more than 2,000 points this week. Are you suggesting that was overblown? Are financial markets overreacting here?” a White House reporter asked the president during a rare appearance in the White House briefing room Wednesday evening.

“I think the financial markets are very upset when they look at the Democrat candidates standing on that stage making fools out of themselves,” Trump said.

“And they say if we ever have a president like this – and there’s always a possibility, it’s an election. You know. Who knows what happens right. I think we are going to win. I think we are 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, yeah,” he added.

“Well, I really think the stock market – is something I know a lot about – I think it took a hit maybe for two reasons. I think they look at the people that you watched debating last night, and they say if there’s even a possibility that that can happen, I think it really takes a hit because of that,” Trump said in response to a question about how the Coronavirus will continue impacting the stock market. “And it certainly took a hit because of this, and I understand that also because of supply chains and various other things, and people coming in.”


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