Quantcast
Connect with us

Trump says the ‘Stock Market starting to look very good’ — after the worst investor panic in 2 years

Published

on

President Donald Trump boasted about the state of economy Monday afternoon, not even an hour after the markets closed on the worst day of investor panic in two years.

The S&P 500 lost 3.3 percent as fears about the spreading coronavirus outbreak spiked, and the Dow Jones tumbled 1,000 points. It was the worst decline since February 2018, CNN reported.

Analysts broadly agreed that the sudden stock market plunge was a result of the emerging coronavirus pandemic, which started in China but has spread to Italy, South Korea and elsewhere, triggering expectations that it could be harder to contain than had been hoped.

ADVERTISEMENT

“We are at a turning point in the Covid-19 epidemic,” Lawrence Gostin, a global health law professor at Georgetown University, told Vox, using the name for the specific virus. “We must prepare for the foreseeable possibility, even probability, that Covid-19 may soon become a pandemic affecting countries on virtually all continents.”

But amidst this news — and clearly fearful of the impact the outbreak could have on his policial standing — Trump is resorting to a blatant defiance of reality:

While there doesn’t appear to be a massive outbreak in the U.S. at this point, the virus’s spread in other countries makes its proliferation here a more significant possibility. (However, it’s far from clear how severe an outbreak would be, as the mortality rate from the infection is uncertain.)

ADVERTISEMENT

But the fact that Trump would tell such an absurd lie about the stock market on its worst day in two years is deeply disturbing. We need no new evidence that he’s an unrepentant liar, of course, but this kind of outright deception and effort to instill distrust of other news sources is extremely dangerous in the time of a public health emergency. Citizens and institutions need to be able to look to the government and the news media for reliable information to keep themselves safe. Trump has no interest in preserving this trust, however; he’s only interested in winning every individual news cycle.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Woman allegedly involved in Central Park scandal placed on leave from job: ‘We do not condone racism’

Published

on

Video circulated on social media on Memorial Day of a woman in Central Park claiming she was calling 911 to falsely claim an "African-American man" was threatening her life.

It reportedly started after he filmed her walking her dog without a leash.

https://twitter.com/melodyMcooper/status/1264965252866641920

Internet sleuths worked to identify the woman. During the day on Monday, rumors of her identity spread online.

Continue Reading

Breaking Banner

Scientists fight online coronavirus misinformation war

Published

on

With cat photos and sometimes scathing irony, Mathieu Rebeaud, a Swiss-based researcher in biochemistry, has nearly tripled his Twitter following since the coronavirus pandemic began.

With 14,000 followers, he posts almost daily, giving explanations on the latest scientific research and, in particular, aims to fight misinformation that spreads as fast as the virus itself.

He is among a growing number of doctors, academics and institutions who in recent weeks have adapted and amplified their scientific messaging in hopes of countering what has been termed an infodemic -- a deluge of information, including widespread false claims, which experts say can pose a serious threat to public health.

Continue Reading
 

Breaking Banner

Ted Cruz doesn’t want people shamed with body bags for going to beach: ‘Please stop the hate’

Published

on

In early May, Florida attorney Daniel Uhlfelder made news by dressing up as the Grim Reaper in an attempt to scare people from crowding beaches during the COVID-19 pandemic.

Days later, he escalated by laying out body bags on the steps of the Florida capitol building in Tallahassee.

He escalated further on Saturday by announcing he would be handing out body bags to Florida beachgoers and started a fundraiser with the funds going to two progressive Political Action Committees.

https://twitter.com/DWUhlfelderLaw/status/1264412394794647552

The effort caught the eye of Sen. Ted Cruz (R-TX).

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image