As U.S. stocks plummet, Trump goes silent on role in markets

[DonViejo]

Source: Reuters



FEBRUARY 5, 2018 / 5:28 PM / UPDATED 12 MINUTES AGO

Steve Holland, Trevor Hunnicutt

WASHINGTON/NEW YORK (Reuters) - As U.S. stocks plunged on Monday, President Donald Trump was speaking at an event in Ohio but noticeably not taking credit for the market despite doing so repeatedly when stocks were rising.

The stark contrast was a sign that Trump may be absorbing a tough message, underscored by former White House advisers, that American presidents traditionally have avoided commenting directly on Wall Street’s fickle trends.

Gene Sperling, a top economic adviser to Democratic former presidents Bill Clinton and Barack Obama, said Trump erred in recent months by focusing so heavily on the stock market.

“Even though the stock market tripled under Bill Clinton, his view was that you should always focus your policies and your public messages on bread-and-butter kitchen table issues ... and that focusing on the stock market would take your eye off the real economy,” Sperling said.



Read more: https://www.reuters.com/article/us-usa-trump-markets/as-u-s-stocks-plummet-trump-goes-silent-on-role-in-markets-idUSKBN1FP2TL

[Chemisse]

1. If he takes credit for its rise, he gets blamed for its fall. n/t

[msongs]

2. why is it not being called the trump crash yet? nt

[Eliot Rosewater]

3. In 2015 he said any prez who oversaw 1000 drop in one day deserved to be SHOT out of a cannon

[AtheistCrusader]

5. Hoist by his own petard.

[dchill]

6. Unless it's Mueller's fault.

Or Hillbamalosi.

[AwakeAtLast]

12. Well, the joke Twitter account did

It wasn't real. Not out of character, though!

[Pachamama]

4. Live by the sword....die by the sword n/t

[captain queeg]

7. But Mueller! Hillary! SOMEBODY DO SOMETHING!

[durablend]

8. Damn you O'Bummer!!!

[catbyte]

9. Seriously?

"The stark contrast was a sign that Trump may be absorbing a tough message, underscored by former White House advisers, that American presidents traditionally have avoided commenting directly on Wall Street’s fickle trends."

That shithead is incapable of absorbing anything except the salt & fat from the cheeseburgers he inhales. He's probably trying to figure out which Democrat to blame--Obama, Clinton, Schumer, Schiff, or Pelosi.

[riversedge]

10. Asian stocks plunge after bloodbath on Wall Street

http://money.cnn.com/2018/02/05/investing/global-stock-markets-tuesday/index.html?sr=twmoney020618global-stock-markets-tuesday1242AMVODtopLink&linkId=47772677



Asian stocks plunge after bloodbath on Wall Street
by Jethro Mullen @CNNMoneyInvest February 5, 2018: 7:40 PM ET
Dow has worst single-day point fall in history
The big rout in U.S. stocks has spread to Asia.

Japan's Nikkei index plunged 4% in Tuesday morning trading while the S&P/ASX 200 in Australia dropped 3%.

In the U.S. on Monday, the Dow closed down 1,175 points, or 4.6%. It was by far the index's worst closing point decline on record.

The market turmoil began early last week but has now intensified.

"Traders are getting nervous there is more to come," said Greg McKenna, chief market strategist at currency trading platform AxiTrader..............................
CNNMoney (Hong Kong) First published February 5, 2018: 7:40 PM ET

[SWBTATTReg]

11. This really isn't a surprise, I think most of us understood that the

markets can't keep going up and up, and I guarantee you that tRUMP wasn't helping w/ his big idiotic mouth. Not being very presidential.

Quick to claim credit for everything, but awful slow to claim any credit for the market downturn already experienced as well as on the way. Nor is he being any kind of calming influence. He's damaged the brand too much for the markets to pay any attention to him and anything he says any longer. Cried wolf too many times on so many different things.

Typical drops are sometimes substantial (when the markets finally turn down). Since the markets have been going up and up, who truly knows when things will 'settle down'. They tried to predict when the markets (real estate and stock markets) would calm down during the 2007-2008 crash, no one could.

Hold on to your hats, and get ready for a wild ride. You got tons of speculators who were betting on markets going up and up (like they have been) and now they have been caught w/ their pants down. Of course some betted on the Markets going down after such a run, but I suspect that a lot of these downside speculators kept getting burned again and again, when over the last couple of years, folks were anticipating some kind of market correction.

Markets since tRUMP have gone up roughly 20%, I expect downturn of roughly that percent and probably more, since markets have been going up for some time. It'll take time. And most importantly, it's what tRUMP does too in minimizing the impacts. I suspect anything that he does is going to be far far too late.