Donald Trump’s coronavirus speech caused the worst stock market crash since 1987

Trump signs executive orders on transparency in federal guidance and enforcement

Wednesday night, Donald Trump gave a speech from the Oval Office about the coronavirus. People within the administration were begging him to make some kind of in-depth statement about the federal government’s preparedness for a pandemic, and to put citizens at ease that the federal government could at least be counted on to function at a bare bones level. What happened was that Trump sniffed and wheezed through eight minutes of lies, propaganda and jingoism and he announced one ill-advised travel ban, which skirts his own Trump-owned foreign properties. The result was catastrophic. The European markets crashed, followed hours later by the worst American stock market crash since 1987 – the market crash was even worse than the darkest days of the 2008 crash. Reportedly, even Trump knew he made a bigly mistake:

In the most scripted of presidential settings, a prime-time televised address to the nation, President Trump decided to ad-lib — and his errors triggered a market meltdown, panicked travelers overseas and crystallized for his critics just how dangerously he has fumbled his management of the coronavirus.

Even Trump — a man practically allergic to admitting mistakes — knew he’d screwed up by declaring Wednesday night that his ban on travel from Europe would include cargo and trade, and acknowledged as much to aides in the Oval Office as soon as he’d finished speaking, according to one senior administration official and a second person, both with knowledge of the episode.

Jared Kushner, his son-in-law and senior adviser who has seized control over some aspects of the government’s coronavirus response, reassured Trump that aides would correct his misstatement, four administration officials said, and they scrambled to do just that. The president also told staffers to make sure other countries did not believe trade would be affected, and even sent a cleanup tweet of his own: “The restriction stops people not goods,” he wrote.

Other administration officials rushed to alert the public that U.S. citizens would be exempt from the travel ban, after scores of Americans, upon digesting Trump’s speech, phoned government offices and raced to airports in Europe out of concern that they would not be able to fly home.

Trump’s 10-minute Oval Office address Wednesday night reflected not only his handling of the coronavirus crisis but, in some ways, much of his presidency. It was riddled with errors, nationalist and xenophobic in tone, limited in its empathy, and boastful of both his own decisions and the supremacy of the nation he leads.

[From WaPo]

“Jared Kushner, his son-in-law and senior adviser who has seized control over some aspects of the government’s coronavirus response…” Lord almighty. So Mike Pence is the Coronavirus Czar, but Jared Kushner is the Coronavirus King. It was said (pre-speech) that Trump didn’t even want to make the speech until Jared told him what to say and Jared came up with this stupid travel ban scheme. Anyway, yeah… the administration’s response to the pandemic has been perfectly on-brand for this ignorant band of white supremacists, morons and hateful idiots. The Daily Beast also did a story about the “total chaos” within the Trump administration – mainly the State Department – about his speech.

Jared Kushner Iraq

Trump signs coronavirus supplemental funding bill at White House

Photos courtesy of Backgrid and Avalon Red.

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98 Responses to “Donald Trump’s coronavirus speech caused the worst stock market crash since 1987”

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  1. Jan says:

    He has a negative effect on everything. Hope he catches the virus and STFU. Really we need to ignore him. He lives for attention.

    • whatWHAT? says:

      and he’s blaming Obama AGAIN this AM.

      NO ONE IS BUYING WHAT YOU’RE SELLING, DONNIE BOY.

      • B n A fn says:

        We will remember in November. Vote Blue.

      • Christina says:

        Trump is the symptom, not the disease. Until his voters get hit with the results of the pandemic, he can still take the electoral college. Votes don’t matter in presidential elections. As long as the electoral college people think that the people at Trump rallies will destroy their careers and livelihoods, votes only matter in states that use vote counts to assign electorates. It’s important that we demystify how presidents are elected. Votes count in all American political races excepting the presidency. When I really understood that, it was like a blast of ice water to the face.

        My kid missed two midterms and is on an overpriced one-way flight home from Europe right now because of the ignorance of the American voters and Republicans who saw an opportunity to get everything they wanted by keeping and flattering a dumb figurehead in office. The voters wanted to “blow up” a system that they didn’t like, and the Republicans wanted absolute control to keep the status quo and to keep progressives and people of color and non-Christians out of leadership. Well, I hope that the “blow up” voters now understand that the system they hated would have kept them safe from a pandemic. Citizens United screwed all of us to allow the wealthy to take over.

        I feel powerless. I wanted Warren, but I am grateful for the Black voters who slapped me into compliance to just get rid of this sick, stupid man and I will vote for Joe Biden. And I hope that the electoral college will, too.

    • Original Jenns says:

      It’s now said that he and Pence will not be tested for the virus, despite coming into close contact with an infected person. My guess, he’s been tested and he or Pence has it but will never admit it because he’s such an f- up, so he’s going with this.

    • The Recluse says:

      And he was potentially exposed at both CPAC and by the Brazilian delegation, so I keep waiting to hear that the White House is under quarantine.

    • Hope he keeps holding those NAZI rallys: maybe it will thin out the herd. 🤯

    • (TheOG) jan90067 says:

      Not this just this, but apparently he asked his SIL’s (Karlie Kloss’) father (who is a doctor) what to do…. AND KLOSS’ FATHER CROWDSOURCED IT OUT TO FACEBOOK!!! NO SH!T!!

      THIS is how we’re getting out info. We’re doomed.

  2. Anne says:

    Every time I believe someone can’t possibly be that dumb, this administration rushes to confirm it.

  3. Goshox18 says:

    I can’t stomach any more of this administration. Inept, unqualified, and completely out of touch… and those are some of the nicer things I can say.

    • Chica71 says:

      I’m with 100%. Even with the lies The MAgaT is still doubling down on his lies this morning.Thank goodness for Fauci and Obama’s old pandemic chief for keeping us informed with facts.
      Should be evident that Trump’s debts are tied to the market.He allowed travel from UK even though Europe still have open borders. He purposely refused to let testing for Corona to start earlier to keep his market numbers high.
      First instinct is relieving tax burdens for corporations.
      Despicable all around but at least nobody is listening to him now. The states have taken control

    • jj says:

      I have been sending emails to my senators, Republicans of course, telling them how sick and tired I am of their excuses and their lack of leadership. I am so sick of this guy in the White House and still cannot believe his supporters saying it is just like the flu and it will be over next month, plus they always throw in that it is a Democratic conspiracy to get rid of Trump. People in my neighborhood actually tell me this!!!! It is so depressing. I get so mad thinking about the testing done in the U.S. compared to other nations. My neighbor who is a virologist is giving me more info then our own government. It will get worse once they start testing the mass population. His advice is to stay home as much as possible when it is widespread, about 60 days and wait for it to subside. He thinks the peak will be in April/May and hoping that the warmer weather will slow it down, or flatten the curve. As I told my senators, the buck stops here and I hope Americans remember this at election time.

      • Alarmjaguar says:

        I (politely) went off on a staffer for my Republican senator after being give the standard ‘thank you for your opinion.’ I may have told him he should be ashamed for working for that man.

  4. pineapple says:

    I recall American psychiatrists came out with a statement that Trump was not fit for office. Admittingly, none of these Doctors had seen him as a patient but a letter was written by the American Association of Psychiatrists, I think? I remember being fascinated because, holy smokes, how unprecedented can you get? It soon quietly went away but I always come back to that.

    • Christin says:

      The topic of impairment actually has not gone away. There are several doctors, including Dr. Bandy Lee, who are sounding the sirens daily (via tweets).

      Duty to Warn, Tom Chicago and John Talmadge are other accounts to check out. Noel Casler also has some background of working with him, and points to another possible culprit (years of alleged drug use).

      Whether it is psychological or physical illness, they are all trying to draw attention to the subject.

      • Jaded says:

        E.B. Mann – thanks for that link. I don’t think it sounds outlandish at all. His refusal to divulge his income tax records, the massive cash flow increases from one year to the next and the shady N.J. connection all add up. He will do ANYTHING to make money from human/drug trafficking to extortion to stealing money from his own charity. I don’t know if you’ve ever seen the YouTube videos “The Dubious Friends of Donald Trump” but they’re well worth watching. His ties with Deutsche Bank are very suspect and their head office was raided a couple of years ago. Here’s a good synopsis of the bank’s alleged criminal activities: https://www.theguardian.com/business/2020/feb/16/dark-towers-review-deutsche-bank-donald-trump

      • weinua says:

        Crystal meth: Hitler; adderall: 45!

      • Christin says:

        @EB – Thank you for the video link. David Cay Johnston is always an interesting interview! I love the challenge he issues near the end! Discovery, anyone?

        I’ve got to check out Jared’s link as well. His finances are such a strange (and likely sordid) story.

      • Joanna says:

        @weinua, YES. bet he snorts it too

  5. Kiki says:

    I knew that the Stock Market would crash eventually but over Covid-19? Not like this. While the world is taking necessary precations towards the safety of everyone’s health, these morons are playing and jeapordizing people’s well being. This is why everyone is paranoid when they don’t need to be

    America, this is where you need to use common sense. Cover your mouth and nose when sneezing and coughing. Stay at home if you’re sick. Don’t listen to these nitwits in Government. More importantly, WASH YOUR HANDS.

    • Cinnamon says:

      Hi Kiki! I’m a financial advisor and I can help provide a little insight as to why the stock market is reacting the way it is. One thing the market doesn’t like is uncertainty and that’s what we have on a national and global level right now with COVID-19. Globally our economies are so intertwined that right now we can’t begin to predict what the ripple effect will be as the virus runs it course throughout the world and that’s affecting the market just as much as the lack of an appropriate response/plan from the Dildo-In-Chief. Because we’re getting so much information at such a rapid clip, the markets took 16 days to wipe out the same amount as what took almost 4 months in late 2018. Keep in mind we had bounced back from that pullback a few months into 2019.

      Some positives are that our economy and us as consumers were in historically good shape before this happened (thanks Obama!) and that bodes well for the recovery process. Yes we may enter a recession but that only means 2 consecutive quarters of no growth and remember, not every recession is like 2008. So as your financial advisor my sweet Celebitchies, when it comes to the market try to stay calm and don’t panic. Bear markets have an average lifespan of appx. 1 year. Yes, it sucks but it will recover and if you can hang in there you’ll be ok in the long run. Anyone with market concerns please don’t think I’m minimizing your fears, I’m literally living on Tums right now. But when I look at historical norms, in the end will always recover from these event driven occurrences. For me it’s better to focus on how I can help protect and take care of my community. And now I’m off to wash my hands! 🙂

      • Christin says:

        @Cinnamon – Thank you for the professional opinion as to what is happening. I had very little in a 401k when the 1990s tech bubble burst, but I really noticed the 2008 effects. It took years to recover.

        I am trying to remember the adage about how it’s just stocks on sale, when the market goes down. I hope that people will not panic and sell / move funds, which makes the losses real.

      • manda says:

        wow, thank you so much for this!

      • Joanna says:

        So sweet of you! Thanks 😘

  6. sa says:

    The broadcast networks have a “public interest” responsibility. They really need to assert it by refusing to air Trump’s speeches, which are designed to be deceptive and are therefore against the public interest.

  7. sa says:

    sorry, double post

  8. Jerusha says:

    trump has come in contact with several people who tested positive. Keep Hope Alive.

    • Christin says:

      Does anyone believe he has not been tested?

      The only way I think he would refuse, is if he feared someone also using the sample to determine he’s not as super-healthy as quacks have claimed.

      • whatWHAT? says:

        I actually would believe that he’d refuse a test because he’s of the childish mindset that “if I don’t KNOW something is wrong, I can pretend that nothing IS wrong”.

        but I would bet SOMEONE could easily grab a diet coke can or something else that has his saliva on it and test that. but would they tell him?…

      • Christin says:

        Lol at testing his Diet Coke. Heaven knows there would be no remnants of a hamburger to test.

      • B n A fn says:

        He is ashamed to say he’s testing for something he called a hoax. I bet he has the virus, but afraid to say so. He lies about everything, why not this.

      • Louisa says:

        I read that he is refusing to take the test because of the open rape case in NY. The AG had asked for his DNA (which he of course refused to give) so he’s scared it will end up there if he takes the test. and gets swabbed
        There is no bottom……

    • Lindy says:

      Barr, too. Could we get them both?

    • Fingers crossed, Jerusha! 🤞🏼

  9. Mac says:

    Steven Miler must be so pi$$ed that the administration is banning white people.

  10. tmbg says:

    Will someone please give me an ejection button to get off this planet? I’m going to have a nervous breakdown with this virus floating around and now our economy going into the toilet. I need a horse-sized dose of Valium.

    • Esmom says:

      Seriously. On the plus side, I can’t help but finally feel that the Democrats will take the presidency in Nov and maybe even the Senate. Not just because Trump has effed up so badly but because they Democrat field is narrowing and everyone can go all in behind (presumably) Biden. Let’s just hope that Trump and the GOP don’t try to use COVID to suspend the elections. 😐

      • MeghanNotMarkle says:

        I will risk the coronavirus to vote, even with my autoimmune disorder (I’m in pretty good health right now, otherwise I’d insist on getting an absentee ballot). And I’ll quarantine myself afterwards so I don’t spread it to anyone else who may be immune-compromised. Every state should have the availability of voting by mail.

      • lucy2 says:

        That’s the only silver lining I’m seeing in all of this – a lot of people were clinging to the economy to justify him, and everyone is pretty angry how this has been handled. I doubt it will change any Trumpers minds, but I’m hoping it makes apathetic non-voters realize how important this is and get out there to vote.
        I’m also seeing a push in many states to increase vote by mail, which could improve voter turnout, which usually benefits Democrats.

  11. lily says:

    Trump looked like he has it himself since he was out of breath holding in coughs and eyes that wouldnt fully open during the broadcast and havent more than a few of his Mar a Lego visitors contracted it plus that official from Brazil? They wont tell us but I bet money Trump is sick too.

    • Jerusha says:

      🙏🏻

    • Betsy says:

      I also think it’s likely he has it, though that’s no guarantee he’ll become moderately or severely symptomatic. That’s likely too, though, given his age and obviously compromised health.

  12. Mireille says:

    Didn’t watch his speech. Don’t care what comes out of this fool’s mouth because he doesn’t care. All his lies are to benefit him and reelection. He has failed in leadership during this crisis. He won’t even work with Pelosi because he’s too mad at her for trying to impeach him. Screw impeaching him — he should be FIRED at this point.

    Also, I didn’t know Trump’s horrific wax figure son-in-law is the Savior of the World. First, he resolved that pesky Middle East situation and NOW he’s going to show us how to handle the Coronavirus. And here I am thinking all this time that this artificial automaton was still looking for The Wizard of Oz to give him that brain.

    • Chrissy says:

      Totally agree, Mireille! And you described Kushner perfectly. Automaton, indeed.

      • (TheOG) jan90067 says:

        Jared “I Wanna Be a REAL Boy” Kushner, to the rescue?? Yeah…SURE!

        I thought I read he and Daughter-Wife exposed in Thailand (?) from a govt official who tested positive??

    • weinua says:

      😸 😂

  13. Lightpurple says:

    Today’s message from the White House is that it is all the fault of Obama and Biden, the virus itself, the mixed messages from the CDC, the lack of staff at the CDC, the lack of test kits are all the fault of Obama and Biden.

    That Jared Kushner has seized control of anything in the White House constitutes an illegal coup. Kushner and ivanka, neither of whom was ever elected or confirmed to any position by the Senate, should not be allowed to make any decisions concerning a response to a pandemic or how our tax dollars are spent – ever. Has either one of them even passed a biology course?

  14. Chica71 says:

    Didn’t watch speech because I get news from Twitter, it’s bad when his government departments start issuing clarifications in real time as he was speeching.

  15. Caroline says:

    about 90% of the WH staff seems to have been directly or indirectly exposed to known COVID19 carriers

    He’s definitely getting tested, and since he’s an obese man over 70, if he’s got it … will make me believe in god again 🤞🏼

  16. Jerusha says:

    An influential evangelical from the Christian Broadcast Network has called out trump over his lies!! Wonder if that will penetrate the minds of his hard shell cultists?
    https://twitter.com/huffpostpol/status/1238395667741016065?s=21

    • MeghanNotMarkle says:

      If Crazy Pat or any of his ilk are saying you’re wrong when you’re supposedly the second coming of Christ, you done screwed up.

  17. TheOtherSarah says:

    Jared Kushner is in charge. Jared Kushner… Jared freaking Kushner. ARE YOU KIDDING ME???!!
    Another thing I have not seen people talking about is the situation at the border, in the kiddie concentration camps Parmesan Putin set up.
    Lawyers, journalists and security guards can still enter and leave, which means they can be/get sick and transfer the virus. But what happens if one of the kid get sick? People keep saying that the under 10 year olds are the least likely to die but is that stat still true for children leaving in such unhealthy conditions?!
    I am really scared for them.

    • Kkat says:

      I suspect they will give it to them on purpose to get rid of the problem, or say they got it and explain why kids are missing or dead.

      I’m wondering about the homeless population too

  18. Betsy says:

    That he was suppressing testing in order to buoy his chances to win is criminal.

  19. Chickaletta says:

    He done really eff’ed up the economy now. The Republican party must be absolutely livid. Somewhere, Donald Trump is in a dark room surrounded by shadowy figures in Party City USA black robes saying “You had ONE job to do!”

  20. Marjorie says:

    I watched his speech and it was the stupidest move I’ve made in a while. F him.

  21. Allergy says:

    I know where this virus originates. Bannon. I can just tell.

  22. Zantasia says:

    I canceled a trip to this weekend to see my dying father after Trump said some nonsense about closing travel to Washington State. Who knows what he will do.

    • nicegirl says:

      @Zantasia, I’m nearby to Wa state personally and have close people there, if your dad is in need of help or supplies, I have connections and can send help his way.

      • Louise says:

        You. You win All The Things today. Thank you for … confirming that kindness is not dead.

  23. rrabbit says:

    Bolsonaro who was with Trump last Saturday has just tested positive. It is getting likely that Trump has it as well.

  24. Discharge says:

    Americans: We need $1.5T for:
    SNAP for 700K Americans: $1.1B
    End homelessness: $20B
    Insulin for every diabetic: $40B
    Universal Pre-K: $60B
    Universal 4-yr-college: $70B
    Cancel student debt: $1.4T

    GOP: BuT HOw WiLl wE PAy fOr It

    Billionaires: Market’s look bad
    FED: HERE’S $1.5T!

    • lucy2 says:

      Not to mention the trillion dollar tax cut they did a while back, which only benefited the very wealthy, with NO PLANS to pay for it.
      He and his ilk did an enormous amount of damage to this country, and we’re going to be suffering for it for a long time.

    • Lindy says:

      This is so sickening, isn’t it? Honestly, I am so f-‘$ing tired of hearing that socialism is a failed system. How’s capitalism working out for most people, huh? When the school districts are torn between cancelling school to limit viral spread and figuring out how the free-meal kids will still get fed… When we shovel cash to the market but refuse to create any social safety nets… I just feel sick sick sick over this.

      And for me (even Bernie and Warren are not far enough left for me), it’s a reminder of why I’m so angry that I’ll be stuck voting for Biden in the fall.

      I saw something the other day that really gets at the problem: for Biden, Trump is a disruption of the status quo. For Bernie and Warren, Trump is the result of the status quo.

  25. Allergy says:

    Psychopathy shows in brain scans. There needs to be a law that if you’re medically proven a psycho, you can’t have any government job. Not even a clerk in a city hall.

  26. Allergy says:

    Kushner looks like a doll the ventriloquist left sitting alone.

  27. qwerty says:

    Has Ivanka been tested? She’s been meeting with a whole bunch of people who’ve later turned out to be infected.

  28. Sean says:

    It’s 4:37 PM where I am so not sure if anyone is still reading the comments but I have to ask:

    WTF is wrong with his right eye? It look swollen during his address on Wednesday and it looked even worse today during his national emergency declaration. It looks like he can’t even open it.

  29. Thea says:

    Well the dotard just publicly stated that he doesn’t take responsibility for all of this. You know cause that’s what a great leader does. The buck doesn’t stop here…it stops all the way over there.

    And putting Jared in charge? Oh. We can all breathe a sigh of relief now you guys. We’re saved. /s

    And then there’s Fox, who’s telling viewers that it’s the safest time to fly, but is prohibiting non-essential travels for employees.

  30. Thea says:

    Well the dotard just publicly stated that he doesn’t take responsibility for all of this. You know cause that’s what a great leader does. The buck doesn’t stop here…it stops all the way over there.

    And putting Jared in charge? Oh. We can all breathe a sigh of relief now you guys. We’re saved. /s

    And then there’s Fox, who’s telling viewers that it’s the safest time to fly, but is prohibiting non-essential travels for employees.

  31. Veronica says:

    The stock markets are crashing because two of the largest economies in the world are currently being completely mismanaged and there’s no clear vision or certainty as to the lasting economic impact of this. It’s also terrifying to realize how unprepared we are for a more virulent outbreak, and that’s really where people’s panic lies.

  32. Jay says:

    Argh! In discussing whether or not he will close the border to Canada to limit covid-19, Trump said he won’t: “They’ve just about finished with the USMCA” as if the trade deal has any impact on what’s the best choice for public health.
    To be clear, I’m not advocating for borders between our countries to close, I’m just angry that he’s framing this as a favour (a quid pro quo, one might call it), and obviously thinking in financial rather than human terms. It would be embarrassing and pathetic if it weren’t so dangerous. Just needed to vent my frustration. PLEASE get rid of this one, guys!
    Article: https://www.cbc.ca/news/politics/trudeau-covid-19-1.5496367

  33. Allergy says:

    And now he can’t wait to declare martial law. Then he can play a war general and king. Puke.

    • Powermoonchrystal says:

      Ugh, people like you without regard for the common good are no better than Trumpers. If Trump wins again, he will fill the SC with conservatives and change the legal lanscape for years/generationd to come. Not to mention, he and his incompetente administration will be responsible for any crisis in the next 4 years. This will not be close to the same scenario with Biden. IT really is that simple

  34. Lydlove says:

    Absolutely wild. He’s pretty terrible. So is Biden though. Biden is responsible for the prisons being as terrible as they are, so I can’t in good conscious vote for him. I’m sorry guys. Neither of these guys have my vote. May the world survive.

  35. Veronica says:

    These jackasses really rushed out some shoddy plan on Friday just to create a speculative bubble before the weekend so he could brag about a major gain. It’ll be down again next week as infection numbers continue to grow. People should prepare themselves for the reality that this will likely herald another recession.