Not sure if you noticed it yesterday, but the DOW took a huge dip as the mainstream media continues to ramp up fears of the COVID virus. Of course, this has investors panicking since they are being told by the suits on television that the virus is the black plague 24 hours a day.
Well, Trump has now weighed in on the stock market plummeting and it is exactly what we all needed to hear and also makes you miss the man even more.
President Trump called out China for its role in the virus and allowing it to spread the way it has all around the globe.
The theory that it was leaked out from a lab in China is continuing to grow as more evidence points to that as being fact and not just a wild theory on the internet.
When this virus started to make its rounds, Trump uttered this possibility but instead of him getting any credit for it, he was shouted down and called a racist by the mainstream media.
Sadly, our economy has taken a massive hit from this virus and there seems to be no end in sight which has everyone wondering when will it be enough?
Take a look at what President Trump had to say:
— ET NOW (@ETNOWlive) July 19, 2021
Reuters had more on the sudden downturn:
The Dow and the S&P 500 indexes sank more than 2% on Monday as investors sold off economically sensitive shares and travel stocks and sought the perceived safety of bonds on fears that a spike in COVID-19 cases would derail a broader economic recovery.
New infections surged in parts of Asia and England, while U.S. COVID-19 cases soared 70% last week, fueled by the Delta variant. read more
All 11 S&P sectors fell, with the so-called value stocks, including financial (.SPSY), industrial (.SPLRCI), materials (.SPLRCM) and energy (.SPNY), dropping between 2.5% and 4.4%.
#BOBINDEX sinks further on Friday falling -1.65% leading all indexes lower…#S&P stumbles -0.75%…#DOW falls -0.85%…#NAS slides -0.79%… $ZYXI is best performer on the #BOBI up 10.66%…Sector head to head breakdown #BOBINDEX #BOBI pic.twitter.com/lLS25PxkGR
— Ron Daniels (@bookofbrikk) July 17, 2021
Stock investors looking for the exit signs as the Dow falls 800 points on Delta fears, profit taking.
— Residential First Capital (@ResFirstCapital) July 19, 2021
CNN Business had this to say:
Investors feared that the Delta coronavirus variant could threaten the US economic recovery. Shares of companies in sectors that were widely thought to benefit most from the reopening of the economy are getting hit the hardest.
Airlines American (AAL), United (UAL) and Delta (DAL) were all down aronud 4% to 5%. Cruise operators Carnival (CCL), Royal Caribbean (RCL) and Norwegian (NCLH) each fell between 4% and 6%.
Energy stocks plummeted as well following a more than 3% drop in oil prices. Chevron (CVX) and Exxon Mobil (XOM) were down 8%.The OPEC+ group of nations also agreed over the weekend on a deal to produce more oil, a move that could boost supply and reduce crude prices.