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Stocks suffered worst week — and worse month — since March as election approaches

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Stock broker tearing his hair out (Shutterstock)

President Donald Trump has regularly bragged about the stock markets as he campaigns for re-election.

Although a poor barometer for the economy due to the lack of stock ownership, Trump has relied upon it as a stand-in for the overall health of the economy.

But as the election approaches, the numbers are not looking good for him.

“The Dow Jones Industrial Average declined Friday, closing out its worst week and month since March in the final lap of the presidential race,” The Wall Street Journal reported Friday. “Volatility reigned in the week before the Nov. 3 contest. Investors have been spooked by a record high in coronavirus infections in the U.S., fresh lockdowns in Europe that threaten economic growth and a mixed bag of earnings report from big technology companies.”

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“All three indexes suffered losses of more than 2% for October, their second consecutive month of declines. After a remarkable run since late March, stocks peaked in early September–only to tumble on worries the market had run too far, too fast,” the newspaper noted. “The prospect of a contested election continues to cast a shadow over the market, adding to the uncertainty over what the rest of the year will bring.”

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2020 Election

Obama says some Black men are persuaded by Trump’s ‘macho’ bravado bragging about women and money

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In part two of the SnapChat interview with President Barack Obama, Peter Hamby asked how President Donald Trump was able to persuade so many Black men to support him over President-elect Joe Biden.

When Obama was elected he got about 95 percent of the Black vote, where Biden got about 80 percent.

"Well, look, I think men, generally, are more susceptible to public figures who act tough, sort of the stereotypical macho style," Obama said, while videos of Trump showing off his flabby muscles appeared. "I don't think Black men are immune to that any more than White or Hispanic men are. A lot of the values of pop culture are extolling wealth, power, frankly, greed, not thinking about other people because you're so ruthless you're just looking out for yourself."

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2020 Election

‘I’m utterly embarrassed’: Michigan Republican admits Rudy Giuliani ‘waded into the realm of insanity’

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Michigan state Rep. Aaron Miller, a Republican, this week accused Rudy Giuliani of entering the "realm of insanity" with his testimony to lawmakers in Michigan.

Miller made the remarks following Giuliani's wild testimony to the Michigan House Oversight Committee.

"I’m happy to thoughtfully listen to evidence and claims and that was what today was supposed to be about, but Mr. Giuliani’s final statement waded into the realm of insanity," Miller said, according to The Detroit News. "He made wild and broad partisan insults for several minutes that had nothing to do with the election, and it was frankly unacceptable, shameful, and pathetic and distracts from any evidence that we might hear."

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2020 Election

Trump refuses to say whether he still has confidence in AG Bill Barr

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President Donald Trump on Thursday refused to say whether he still had confidence in embattled Attorney General Bill Barr.

According to Reuters White House correspondent Jeff Mason, the president was asked whether Barr still had his confidence, and Trump replied that reporters should ask him that question again in a few weeks.

Trump is reportedly furious at Barr for two reasons.

First, Barr told the Associated Press this week that so far the Department of Justice has found no evidence of systemic voter fraud that would change the outcome of the 2020 election.

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