Donald Trump is furious at the major dip in the stock market after members of his administration gave warnings about the spread of the coronavirus, a new report claims.
Sources close to Trump told the Washington Post that the president is seething at the major downturn in the stock market this week as investors fear that the rapidly spreading virus could have a widespread economic impact. The report claimed that Trump warned aides not to issue dire forecasts for the spread of the virus for fears that it will send the stock market down even more.
The markets saw major losses both on Monday, when the Dow Jones Industrial Average fell more than 1,000 points, and on Tuesday when it fell again by more than 800 points. As CNBC noted, the market dip accelerated after Trump administration health officials warned that the virus will likely continue to spread in the United States. As the report added, both the Dow and S&P 500 fell more than 3 percent on Tuesday, and this week has seen the worst two-day drops for the indices since February 2018 and August 2015, respectively.
In public statements this week, Trump had tried to allay fears about the coronavirus with declarations that critics said were not at all supported by facts. As The Hill reported, that included a statement from Trump that health officials were “very close” to a vaccine.
“We have very few people with it,” Trump told reporters during a press conference during his trip to India. “The people are getting better, they’re all getting better…I think that the whole situation will start working out.”
But that message appeared to be contradicted by Trump’s own administration, which warned on Tuesday that the virus would likely continue to spread in the United States after a handful of cases had already been reported. Dr. Nancy Messonnier, director of the Centers for Disease Control and Prevention’s National Center for Immunization and Respiratory Diseases, said on Tuesday that the spread of the coronavirus 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.
As The Inquisitr noted, Trump also tried to make optimistic statements about the stock market. On Monday, the president tweeted that the stock market “is starting to look very good” shortly after markets closed on the loss of more than 1,000 points.