Donald Trump remained bullish on the stock market this week, even on a day when the Dow Jones plunged 1,000 points.
On Monday, after a significant drop amid fears of the spreading coronavirus, Trump took to Twitter to share some optimism — both about the administration’s efforts against the disease and the prospects of the stock market.
“The Coronavirus is very much under control in the USA,” Trump wrote in the tweet as markets were closing on Monday. “We are in contact with everyone and all relevant countries. CDC & World Health have been working hard and very smart. Stock Market starting to look very good to me!”
Trump’s tweet came as the Dow Jones industrial average ended the day 1,031 points down from the close on Friday, sparking concerns that the further spread of the virus could put a major crimp on the economy. The drop was the steepest single-day plunge in two years and came as stocks sank in Asian markets, where the spread of the coronavirus has led to widespread quarantines in China and fears that the economy could face widespread impact.
The president’s stock market prediction did not appear to pan out, at least in the immediate term. The slide continued on Tuesday, with the Dow Jones dropping another 879 points as people remained concerned about the virus.
As The Inquisitr noted, Trump also claimed that a vaccine for the coronavirus is “close” despite no other reports suggesting that scientists have a vaccine for the disease.
“They have studied. They know very much. In fact, we’re even close to a vaccine,” he said, via CNN.
Other top U.S. health officials have had more dire predictions. Dr. Nancy Messonnier, a top physician at the Centers for Disease Control and Prevention, said on Tuesday that the spread of the coronavirus to the United States would be inevitable.
“It’s not so much a question of if this will happen anymore, but rather more a question of exactly when this will happen and how many people in this country will have severe illnesses,” Dr. Messonnier told reporters on Tuesday.
As The Inquisitr reported, Harvard University epidemiology professor Marc Lipsitch said he believed that the illness could no longer be contained and that within a year somewhere between 40 percent and 70 percent of the world would be infected. But he stressed that not all cases would be severe, noting that many people would be able to withstand the virus with medical treatment and some might not even have symptoms.