News
Stocks Plummet 3000 Points on the Day – Plunge as Trump Holds Coronavirus Press Conference
As President Donald Trump held Monday’s daily coronavirus press conference the DOW plunged into near free-fall, dropping an additional 800 points to being down 3000 points or more on the day.
BREAKING: DOW PLUNGES 3,000 POINTS https://t.co/N2xqlyJ8SH pic.twitter.com/OhfGFpo5L5
— CNBC Now (@CNBCnow) March 16, 2020
President Trump told reporters, who are now observing social distancing guidelines in the press briefing room, that he is considering a quarantine but not nationwide. He also said the crisis could be felt throughout the nation as late as July or August.
“We have that very much,” Trump said when asked if he was considering a quarantine. “Yeah, we have that very much, and we are, we’ve been pretty aggressive. We were early with Europe but we were very very early with China,” the President said of his ban on people being allowed to enter the U.S. from those two geographic areas.
Asked if he is “considering institutiong a nationwide lockdown a nationwide quarantine,” Trump appeared to be prepared to say yes, but then reporter Geoff Bennett told the president the NSC had “knocked that down.”
“At this point not nationwide,” Trump responded.
Earlier today Ken Cuccinelli of the Dept. of Homeland Security responded to rumors of a nationwide lockdown:
Hey folks, we’re not shutting down the United States. Lots of serious mis-information being peddled out there!
— Acting Deputy Secretary Ken Cuccinelli (@HomelandKen) March 16, 2020
Trump continued to insist his administration has been doing a “fantastic job,” despite all the experts who disagree.
The President said “at this point” he is not looking to lockdown the entire country, but added: “we may look at certain areas, certain hotspots as they call them.”
Asked if the current situation, with businesses and schools closing down is the new normal Trump said: “They think August, it could be July, could be longer than that.”
Trump was also asked to talk to those who are scared, which includes millions of Americans. He confirmed that yes, People are “very scared,” but then launched into a self-congratulatory series of remarks.
Watch:
President Trump tells @GeoffRBennett that “we are coming out with strong suggestions,” but at this point, no plan to institute a national quarantine plan. pic.twitter.com/cceVWxb3zt
— MSNBC (@MSNBC) March 16, 2020
UPDATE:
"The market will take care of itself. The market will be very strong as soon as we get rid of the virus," President Trump said. The Dow had its worst point drop ever today: 2,999 points. https://t.co/p36dE5dDFT pic.twitter.com/FMavvSIG5n
— CNBC (@CNBC) March 16, 2020
Enjoy this piece?
… then let us make a small request. The New Civil Rights Movement depends on readers like you to meet our ongoing expenses and continue producing quality progressive journalism. Three Silicon Valley giants consume 70 percent of all online advertising dollars, so we need your help to continue doing what we do.
NCRM is independent. You won’t find mainstream media bias here. From unflinching coverage of religious extremism, to spotlighting efforts to roll back our rights, NCRM continues to speak truth to power. America needs independent voices like NCRM to be sure no one is forgotten.
Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure NCRM remains independent long into the future. Support progressive journalism with a one-time contribution to NCRM, or click here to become a subscriber. Thank you. Click here to donate by check.