Donald Trump just sent the stock market off an overnight cliff
For some reason, it turns out the guy who went bankrupt six times isn’t very good at this economic stuff. In the midst of a coronavirus pandemic and an economic crisis, Donald Trump held yet another press conference today, and essentially tried to make the whole thing about himself. Overnight stock market trading promptly went off a cliff.
Overnight trading in the U.S. market has plunged so badly, it’s already triggered a bottom limit. This means that the Dow Jones will likely open down more than a thousand points tomorrow morning, and we’ll see the markets immediately halted – for the third time in a week.
The kicker is that the Fed announced it’s cutting interest rates to zero, and investors still don’t have any faith in what’s going to happen next. Donald Trump is seen as just that much of a liability. Sure, he managed to create an artificial stock market surge on Friday afternoon when he used a press conference to announce a bunch of things that weren’t even real. But investors see through this guy, and they’re done with him.
