Trump furious at stock market reaction to coronavirus threat

NYSE Big Board: Wall St closes lower after Trump tests positive for coronavirus | FULL

Trump furious at stock market reaction to coronavirus threat

President Donald Trump is furious that stocks are falling, believing health officials' warnings scared investors, The Washington Post reported Tuesday night, citing knowledgeable sources..

According to the publication, the president warned aides against predicting the scale of the impact of the virus threat on the stock market, fearing that stocks could fall even more..

Stock markets plunged on Tuesday, with losses accelerating after health officials warned that the coronavirus «probably» will continue to spread throughout the United States, warning that the American public must «prepare for the expectation that it will be bad».

«Ultimately we expect to see the spread of the disease in the United States», – Dr. Nancy Messonnier, director of the CDC's National Center for Immunization and Respiratory Diseases, told reporters at the conference.

Dow and S&P 500 fell more than 3% on Tuesday, the worst two-day drop since February 2018 and August 2015, respectively.

Stocks came under pressure even after National Economic Council director Larry Kudlow said the coronavirus selloff created a buying opportunity for long-term investors. «The virus story won't last forever», – said Kudlow in an interview «The exchange».

How Are Markets Reacting to Trump’s Covid-19 News?

«For me, if you are an investor and you have a long-term point of view, I would very seriously advise you to take a look at the market, the stock market, which is much cheaper than a week or two ago.. «He also assured investors that in the United States «contains» coronavirus, and it most likely won't «economic tragedy».

Trump furious at stock market reaction to coronavirus threat

On Monday, the president tweeted that the coronavirus «under full control in the USA» and that the stock market «starts to look very attractive».

Trump is expected to meet with aides on Wednesday to discuss the matter, according to the Washington Post..

White House did not provide operational comment on CNBC request.

Popular