Trump touts ‘biggest stock market rise in history yesterday'

[enhanced_deficit]

Trump touts ‘biggest stock market rise in history yesterday'

Trump touts ‘biggest stock market rise in history yesterday,’ but many investors believe worst isn’t over amid coronavirus panic

Published: March 15, 2020 at 6:40 p.m. ET By Mark DeCambre

Friday’s Dow gain was the largest ever on a points basis, much as Thursday, Monday and Wednesday, respectively, had delivered the blue-chip index’s largest, second largest and third largest one-day point declines

President Donald Trump pointed in a Saturday tweet to Friday’s stock-market gains.

AP

Referenced Symbols

• DJIA -9.68%
  
  SPX -9.35%
  
  COMP -9.43%
  
  VIX 34.08%

‘BIGGEST STOCK MARKET RISE IN HISTORY YESTERDAY!’
— President Donald Trump

That is Trump on Saturday morning, referencing the Friday surge by the Dow Jones Industrial Average DJIA, -9.682%, the S&P 500 index SPX, -9.350% and the Nasdaq Composite COMP, -9.432%, which constituted the major equity benchmarks’ biggest daily percentage gains since 2008.

Friday’s Dow gain was the largest ever on a points basis, much as Thursday, Monday and Wednesday, respectively, had delivered the blue-chip index’s largest, second largest and third largest one-day point declines.

But Friday’s rally in U.S. stocks that Trump tweeted about only recovered most of the losses suffered a day earlier, when the market saw its worst day on a percentage-loss basis since the Black Monday crash of 1987. The Dow is down about 20% from its record high. That puts it in a bear market.

Friday’s gains followed a week of unrivaled volatility across markets that elicited numerous references to the financial crisis 12 years ago and the 1987 crash, except in some ways this crisis has felt more intense and unsettling to market participants.

https://www.marketwatch.com/story/t...t-isnt-over-amid-coronavirus-panic-2020-03-14


Related

Trump gloats about stock rally, attacks Biden in North Carolina
Published: March 2, 2020
https://www.marketwatch.com/story/t...ly-attacks-biden-in-north-carolina-2020-03-02

 

[Voluntarist]

Per registered decision, member has been banned for violating community standards as interpreted by TheTexan (respect his authoritah) as authorized by Brian4Liberty Ruling

May God have mercy on his atheist, police-hating, non-voting, anarchist soul.

 

[CCTelander]

So far today every bit of that gain, and then some has been wiped out. Who, according to Trump, gets "credit" for that? I'm betting we won't be hearing how the buck stops with him.

 

[Krugminator2]

The country elected Herbert Hoover.

Everything is going to come down to Mnuchin, Pelosi and Schumer. Fucking McConnell is taking three day weekends when the country is on the verge of a Great Depression like meltdown.


I never thought electing competent people was that important. I have now changed my mind. I wish Mitt Romney or John Kasich were president right now instead of Baby Huey.

 

[Warlord]

The country elected Herbert Hoover.

Everything is going to come down to Mnuchin, Pelosi and Schumer. $#@!ing McConnell is taking three day weekends when the country is on the verge of a Great Depression like meltdown.


I never thought electing competent people was that important. I have now changed my mind. I wish Mitt Romney or John Kasich were president right now instead of Baby Huey.

Mittens would have been worse. Only Ron had the balls to call it as he saw: massive debt, deficits and slashing gov't spending .Trump won't do it and neither will Biden, Mitt or any of the other charlatens.

 

[Swordsmyth]

The country elected Herbert Hoover.

Everything is going to come down to Mnuchin, Pelosi and Schumer. $#@!ing McConnell is taking three day weekends when the country is on the verge of a Great Depression like meltdown.


I never thought electing competent people was that important. I have now changed my mind. I wish Mitt Romney or John Kasich were president right now instead of Baby Huey.

LOL

Trump is our best hope, either of those two would destroy the economy.

 

[Krugminator2]

Mittens would have been worse. Only Ron had the balls to call it as he saw: massive debt, deficits and slashing gov't spending .Trump won't do it and neither will Biden, Mitt or any of the other charlatens.

Mitt would have been infinitely better than Trump right now. Infinitely.

As far as Ron I would obviously rather have Ron's ideology in normal times but he isn't a leader. He wouldn't be equipped to handle all of the administrative things that have to happen right now. This is one time there needs to be a massive government response.

 

[Warlord]

Mitt would have been infinitely better than Trump right now. Infinitely.

As far as Ron I would obviously rather have Ron's ideology in normal times but he isn't a leader. He wouldn't be equipped to handle all of the administrative things that have to happen right now. This is one time there needs to be a massive government response.

You're wrong. government spending needs to be slashes and the budget balanced. Only Ron Paul had the balls to do it and none of the others will. Gov't needs to get out of the way.

 

[Krugminator2]

You're wrong. government spending needs to be slashes and the budget balanced. Only Ron Paul had the balls to do it and none of the others will. Gov't needs to get out of the way.

Solid prescription to have a depression that ends in 2025

 

[Warlord]

Solid prescription to have a depression that ends in 2025

Look, it's simple. The Austrian school has the answers and that is HOW Peter Schiff is able to predict what is going to happen because he follows the Austrian philosphy. There needs to be massive cuts and the sooner the better. Deep cuts to sacred cows like defense and welfare to balance the budget and restore a sane economy, Sure there would be a short term shock and I admit that but all the 'malinvestments' as Mises called them would be liquidated and the economy can then repair itself. All the other losers on the stage offer more of the same boom/bust nonesense that has been going on for a generation. Drastic action must be taken. Only Ron Paul had the balls to say it on the big stage and he was laughed at.

Sen. Rand Paul also calls for massive budget cuts in the tradition of his father so maybe there is a way out of this mess but no way will the GOP nominate him.

 

[NorthCarolinaLiberty]

This is one time there needs to be a massive government response.

 

[PAF]

The country elected Herbert Hoover.

Everything is going to come down to Mnuchin, Pelosi and Schumer. $#@!ing McConnell is taking three day weekends when the country is on the verge of a Great Depression like meltdown.


I never thought electing competent people was that important. I have now changed my mind. I wish Mitt Romney or John Kasich were president right now instead of Baby Huey.

Competent, huh?

Flip-Flop Mitt:

http://www.ronpaulforums.com/showthread.php?436593-Mitt-Romney-On-The-Record

Kasich:

http://www.ronpaulforums.com/showthread.php?436590-John-Kasich-On-The-Record

Trump, keeping in mind that these On The Records have not been updated in a long, long time... they only get worse.

http://www.ronpaulforums.com/showthread.php?477303-Donald-Trump-On-The-Record

 

[kpitcher]

So far today every bit of that gain, and then some has been wiped out. Who, according to Trump, gets "credit" for that? I'm betting we won't be hearing how the buck stops with him.

Anything remotely good, it's all because of Trump. Anything remotely bad it's the dirty Dems, probably Obama.

His loud proclamation that he is not responsible for the lackluster COVID 19 response summed up everything about Trump's leadership.