Market drop: Trump focused on long-term 'fundamentals'

Before the President's speech Raj Shah, the deputy press secretary for the White House, admitted "markets do fluctuate in the short term" but said "the fundamentals of this economy are very strong". "And right now, for the first time in a long time.factories are coming back, everything's coming back".

While there could be various factors behind the market's volatile plunge the last several trading days, Trump has frequently credited himself for the market going up, seemingly with little regard for the fact that it can also move in the other direction.

Trump has repeatedly touted stock market rallies throughout the 13 months of his presidency, but did not say anything about the downturn in the stock market.

One by one, each of the channels dipped away from the president's address because the DJIA was dropping at an alarming rate. The last biggest intraday point dive came on September 29, 2008, when the Dow fell 777 points.

More news: Japan-China attempt to attain common ground on sensitive issues

Bannon was not planning on showing up ahead of a Tuesday deadline because the White House and committee haven't reached an agreement over the scope of the questioning, a source said Monday.

The White House had dubbed it the "Trump bump". "The worst news for Democrats is that the market and the stock market is really not that important to mainstream America. Before the ink was dry, companies were announcing thousands and thousands of new jobs and enormous investments to their workers", Trump said, before touting investment figures by major companies.

WASHINGTON-President Donald Trump has maintained an uncharacteristic silence since the stock market took a nose dive, notable for a businessman president who regularly points to the rising market as evidence of the success of his presidency and economic policies.

Embarrassingly for Mr Trump, Fox News cut their coverage of the US President's big economic speech in OH to react to news of the record-breaking market slump on Wall Street.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Top surfwear CEO is missing after his boat washes up in France
Mr Agnes, a father of three, joined Quiksilver in 1998, when the Australian brand began to expand internationally. The coast of Capbreton is known for it's intense and often risky waves that are prized by surfers .

Man City held at Burnley after late Gudmundsson equaliser
Guardiola can say that all he likes, but we all know that Sterling's miss has directly cost City two points on this occasion. Interesting post? Please share! The most important thing we have done is focus.

UNG hosts Black History Month events
Men of Excellence, an organization that supports minority males on campus, has hosted the "Continuing the Legacy Walk" since 2015. Schools will showcase their learning on February 28 during an event in the Joshua Creek Public School library in Oakville.

Justin Timberlake says Janet Jackson won't be joining him at Super Bowl
This year, Justin Timberlake is the performer, and KSFY News Reporter Kamie Roesler got word from him Thursday in Minneapolis . So Tom is definitely the type of dude you'd invite over to watch the Super Bowl .

Morocco triumph with CHAN after crushing Nigeria 4-0

1.3% despite Q2 beats, 98% Azure growth
Microsoft will now hold an earnings call at 5:30PM ET / 2:30PM PT, and we'll update this article with any relevant information. Microsoft stock , which is closing in on the $100 per share mark, is down slightly following the company's latest financials.

North Korea defends military parade before Olympics
North Korea is usually extremely sensitive about outside criticism of its human rights situation. She received a silver medal for her performance in figure skating.

Google Flights now predicts delays and makes sense of cheaper tickets
Google added a second new feature on Wednesday geared towards exposing the poor value in so-called "basic economy" fares. The app's machine learning system relies on historic flight info to make its delay predictions.

Capita shares plummet 40% on firm's 'lack of operational discipline'
In a statement , the firm's chief executive Jonathan Lewis said "significant change" to the business was required. Capita , like Carillion , which collapsed earlier in January, has numerous government contracts.

United States stocks close lower on sell-off
Dow component United Health Group dropped 5.6%, while Express Scripts dropped more than 9% to lead S&P 500 decliners. Pfizer was down 3.4 percent despite its better-than-expected earnings and upbeat 2018 guidance on a lower tax rate.

Leicester City 1-1 Swansea City: Three things we learned

CDC director resigns after reports she bought and sold tobacco company stocks
We hope-perhaps with undue optimism-that the next director will be free of such glaring conflicts and bad judgment". Fitzgerald also reportedly purchased stocks ranging from $15,001 to $50,000 in U.S.

Raheem Sterling's miss of season allows Burnley to hold leaders City

IPhone owners who paid full price for battery may get rebate
The Apple letter contains two pieces of information that prompt more questions rather than shed any light on the situation. The company apologised and lowered the price of battery replacements for affected models from US$79 to US$29.

'Sense of pride, community' found through Black History Month kick-off
Foster was introduced by Nekkita Beans, president of the university's Black Student Union . He's also credited as the source of Black History Month.


More News

News
More News