Dow futures are down more than 1,000 points after President Trump’s coronavirus address to the nation totally bombs.
According to CNBC:
Futures contracts tied to the major U.S. stock indexes fell on Wednesday night after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.
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As of 10:17 p.m. ET Wednesday, Dow futures were down 1,032 points, indicating a loss of about 992.22 points at Thursday’s open. S&P 500 and Nasdaq 100 futures were also sharply lower.
The market doesn’t want to hear about travel bans, and payroll tax cuts. The market wants to know how the president is going to handle a pandemic.
Trump’s speech was a total disaster. The president screwed up his own written address and claimed that goods are being banned from Europe when they were not. He sounded shaky and repeated previous falsehoods like the claim that the US did not have advance warning about the coronavirus, and that the virus will only be around for a short time. (Trump seemed to be confusing the coronavirus with the McRib.) Health experts say on a daily basis that the coronavirus is not going to disappear, and things will get worse before they get better.
Tom Hanks and Rita Wilson announced that they have the coronavirus at the same time that a nervous Trump was telling America that everything will be fine as long as we wash our hands.
Trump is only concerned about the stock market, and Wall Street’s verdict appears to be that Trump flopped in his coronavirus address.
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Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
