As the President touted his economic agenda in Ohio on Monday, his face stared
out of millions of television screens next to blaring red graphics and yellow numbers
whirling like the reels on a slot machine, telling the story of a full-bore stock market plunge.
Trump touts economy, tax break as market tanks Trump touts economy, tax break as market tanks
For any president, the split screen moment showing an apparent disconnect between his
message of a roaring economy and hemorrhaging equities would be a little embarrassing.
But for Trump, who has constantly boasted about almost daily record highs on Wall Street
since his election and told Americans that he alone is responsible for their healthy 401(k)
balances, the mismatch was even more pronounced.
Even the President's favorite news source, Fox News, was the bearer of bad tidings for
Trump, with a banner reading "DOW, S&P turn negative for the year."
One White House aide told CNN's Jeff Zeleny that it was jarring to see Fox
ditch the President's speech when the market free-fall hit 1,000 points.
As Trump slammed Democrats in Blue Ash, Ohio, and celebrated robust job
creation along with rising wages, the Dow Jones Industrial Average tanked
1,600 points at one point, before recovering on a volatile day to a record loss of a 1,175
point tumble, or 4.6%.McCain, Coons push bipartisan immigration deal despite WH rejection
McCain, Coons push bipartisan immigration deal despite WH rejection
The Dow was already coming off its worst week in two years, taking the 401(k)
retirement plans of millions of Americans down with it, after an era when most
small scale investors have only known constantly rising balances.