Just minutes into President Donald Trump’s pathetic coronavirus news conference on Wednesday evening, Dow futures took a tumble despite being in positive territory earlier on.
Trump decided to hold a news conference in a desperate effort to insist that he has the coronavirus outbreak under control after the stock market lost nearly 2,000 points in two days over fears that the virus won’t be contained.
Rather than deliver a sigh of relief, however, Trump only made things worse by reading lists, attacking Democrats and naming Vice President Mike Pence his coronavirus czar.
In addition, Trump blamed previous stock market losses on the Democratic debate even though the debate was on Tuesday night after all the losses had taken place.
As it turns out, Trump himself may have caused Dow futures, which is premarket data that gives an indication of the next day’s trading, to fall into negative territory after it had been looking good prior to the news conference.
Dow futures turned from positive to negative during Trump’s coronavirus news conference
— John Harwood (@JohnJHarwood) February 27, 2020
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As of this writing, Dow Jones premarket data had lost over 100 points, with Nasdaq and S&P also taking losses, according to CNBC.
And Twitter users were not amused.
Wall Street knows he’s inept. No matter how many people he pays to say he’s the best President ever.
— Scary Strange Times🌊 (@rob13567) February 27, 2020
Strange that the market was not reassured by hearing that Mike Pence will head up the coronavirus task force.
— Joel Klebanoff (@JoelKlebanoff) February 27, 2020
If @realDonaldTrump doesn’t stop talking soon we will probably revisit the Great Depression tomorrow. Someone make him stop.
— Harry Flaxseed (@hflax1) February 27, 2020
Trump may come to regret so furiously embracing the stock market as a barometer for his presidency
— Alexis Goldstein 🏳️🌈 (@alexisgoldstein) February 27, 2020
Just a coincidence. Nothing to worry about pic.twitter.com/ZCQ4Fv4kgU
— RenoSparksCow (@RenoCow) February 27, 2020
Everything trump touch dies
— Jonathan Webers (@JWeber988) February 27, 2020
Trump’s news conference has definitely not given Wall Street any confidence. It backfired.
Featured image via screen capture
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