President Donald Trump reacted to Monday's stock market crash by cheering on lower oil prices.
Oil prices cratered late Sunday after OPEC was unable to reach an agreement with Russia and other allies, which led Saudi Arabia to cut prices and ramp up production -- and the Dow Jones plunged 1,800 points within minutes of the opening bell.
Trump tried to spin the developments as good news.
Good for the consumer, gasoline prices coming down!— Donald J. Trump (@Donald J. Trump)1583764609.0
The president spent the early hours attacking the news media and his Democratic critics who say his administration's response to the coronavirus outbreak has been insufficient, which also made investors skittish.
Saudi Arabia and Russia are arguing over the price and flow of oil. That, and the Fake News, is the reason for the market drop!— Donald J. Trump (@Donald J. Trump)1583764610.0
Trump then tried to downplay the virus' spread and its impact on the economy by comparing it to the flu.
So last year 37,000 Americans died from the common Flu. It averages between 27,000 and 70,000 per year. Nothing is… https://t.co/yFtpDzcod4— Donald J. Trump (@Donald J. Trump)1583765279.0