Trump's 'vicious cycle' of panic and indecision will continue to destroy the economy: CNN panel
The stock market continued its plunge over the holidays, with the Dow and S&P 500 showing the worst Christmas Eve declines ever. The Nasdaq also dropped, according to CNN.
After a brief recovery on Christmas Eve, the stock markets fell again after President Donald Trump tweeted, "The only problem our economy has is the Fed," which created alarm that the President was about to fire Federal Reserve Chairman Jerome Powell.
On CNN Tuesday, analysts noted that the President is stuck in a vicious cycle where his efforts to improve the market create more chaos.
Washington Post reporter Karoun Demirjian predicted that the President is likely to distance himself from the falling stocks, even though his erratic behavior is one of the driving forces of stock market insecurity.
"This President has made it clear, especially in the past few weeks, that he changes his mind from day to day, whether it's the shutdown, how he's acting as Commander in Chief or with his top advisers and that creates more uncertainty and makes situations worse," Demirjian said. "And that makes Trump look at that and panic more and react more and it's kind of a cycle that continues in that way."
"A vicious cycle," CNN anchor Jim Sciutto added.
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