News
Trump’s Oval Office Coronavirus Speech Scares Investors – Markets Were Rebounding but Are Now Plummeting
President Donald Trump made a rare Oval Office speech Wednesday night, stunning the nation and the world by announcing he is banning all incoming travel from the European Union in a wrongheaded attempt to stop the spread of the coronavirus.
Over at CNBC the headline before the President spoke read: “Futures are rebounding Wednesday night after Dow closes in bear market. Traders await Trump.”
The new CNBC breaking news headline reads: “Dow futures drop 600 points as Trump speech disappoints investors.”
Dow futures drop 600 points as Trump speech disappoints investors https://t.co/et2fFVOK5L
— CNBC International (@CNBCi) March 12, 2020
“Dow futures were up more than 200 points,” CNBC reported before Trump spoke.
That means the president’s speech caused an 800 point loss in DOW futures – that’s after the DOW dropped almost 1500 points already Wednesday.
UPDATE: 10:59 PM ET –
Dow futures indicating another 1,000 drop after Trump announces travel restrictions from Europe, NBA suspends the season, Tom Hanks says he has #coronavirus. I’m in for Brian @11thHour 11pET @MSNBC
— Ali Velshi (@AliVelshi) March 12, 2020
This is a breaking news and developing story. Details may change. This story will be updated, and NCRM will likely publish follow-up stories on this news. Stay tuned and refresh for updates.
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