Netizens Blasted Fox’s Grim Prediction of a Market Crash After Trump’s Verdict: ‘Crazy News Station’

Fox News recently predicted that the stock market would crash if former President Donald Trump were to be convicted of falsifying business records. However, in the wake of his guilty verdict, the market defied these predictions and surged, with the Dow Jones Industrial Average climbing nearly 600 points. People online were quick to react to Fox News’s incorrect prediction about the stock market crash following Trump’s conviction. One user pointed out, “Fox News said yesterday that the markets would crash today if Donald Trump was convicted. The DOW gained nearly 600 points. MAGAs are delusional.”

Another user stated , “A business guest on FOX predicted the stock market would crash if DJT was convicted. It went up 600 points. The Market is loving the stability under a sane President who supports our allies. Joe has made investors a lot of money so I hope they show their gratitude at the polls!” Similarly, someone else quipped , “Fox ‘news’ yesterday: If trump is convicted the stock market will crash! Stock market today: Hold my beer! (Best single day of the year – so far. ^600 points).”

@ ReallyAmerican1 also tweeted, “Fox News tries to downplay this incredible benchmark, as the Dow Jones crosses the 38,000 mark for the first time in history. Meanwhile, reminder that Donald Trump is hoping for a market crash in 2024.” In a similar tone, user @@pfeifferkellie3 exclaimed, “Wasn’t Fox Business projecting the stock market would crash the day after Trump was found guilty of 34 felonies. Wrong again, Fox!”

On Thursday, a Manhattan jury convicted Trump of falsifying business records to conceal hush money payments made to cover up extramarital affairs. These payments were intended to prevent any scandals from affecting his 2016 presidential campaign.  According to Mediaite , as the news of the jury’s verdict broke, John Carney, an economics reporter for Breitbart, made a grim prediction on Fox Business. “I think markets crash tomorrow if there’s a conviction,” Carney stated emphatically. “But I think they will bounce back because, look, even if they put Donald Trump in jail, I think the American people will vote him into president. We will vote him into the White House right out of the New York City jail. It’s an outrageous trial.”

“But if there’s a conviction, you think there’ll be a crash?” host David Asman asked, seeking further clarification. “I think the markets will do very badly,” Carney replied. “What are you – talking about a thousand-point loss?” Asman pressed. “I think we’ll see at least a two percent drop,” Carney responded, underscoring his gloomy outlook.

However, as per MSN , Contrary to these predictions, the Dow Jones Industrial Average rose 575 points on Friday, marking a 1.5% gain. The S&P 500 also experienced a positive shift, gaining 42 points or 0.8%. The NASDAQ , however, dipped slightly, losing 0.4%.

The conviction has spurred varied reactions among political and economic commentators. Republicans have framed Trump’s conviction as a monumental event with the potential to boost his chances of securing a second term in the White House. Some argue that the trial and conviction could galvanize his supporters and create a backlash that would benefit his 2024 campaign.

One financial analyst noted, “Investors are looking at the broader economic indicators, which remain strong. Employment numbers are up, consumer spending is steady, and corporate earnings have been largely positive. These factors are providing a buffer against political uncertainties.” Moreover, the market’s upward movement suggested that investors might be viewing the conviction as a resolved issue, thus removing a layer of uncertainty that had previously weighed on the market. “This rally indicates that the markets had already priced in the potential outcomes of Trump’s legal issues,” another market strategist explained. “Now that there is a verdict, investors can move forward with a clearer picture of the political landscape.”