Jerome Scowl. Photo: Andrew Harrer/Bloomberg via Getty Images When the opening bell sounded at the New York Stock Exchange on Thursday morning, new coronavirus infections were rising in at least 20 U.S. states. In Texas, hospitalizations for COVID-19 had just hit a record high for three consecutive days; in Arizona, confirmed cases had risen by an average of more than 1,000 a day. Meanwhile, another 1.
All of which is to say: There is an abundance of rational explanations for why U.S. stock prices tumbled Thursday afternoon, with the Dow Jones declining by nearly 7 percent, the S&P by nearly 6 percent, and the NASDAQ by more than 5 percent.
Peter Navarro sounded similar notes in an interview with Yahoo Finance. “What I would say is that Jay Powell and his remarks yesterday, I think probably the worst bedside manner of any Fed chairman in history. You think the best strategy for Jay Powell going forward would simply to provide the data and let us know where interest rates are going and keep his mouth shut,” the White House trade adviser said.
and how many Americans would believe that
I kinda like it that the guy reporting on our tanking economy is not all smiles, giggles and light.
Well, at least for once it's not a woman being told to, 'smile more, honey!'. Guess the regime is more inclusive than we thought? Yay?