Larry Kudlow is the top White House, economic adviser. On late Monday, he told the Washington Post that investors need to consider buying these dips in the stock amid the coronavirus panic. The message was concerning to take advantage of one-day slumps and buy low.
The Dow Jones Industrial Average had just fallen 1,032 points after all. A thousand miles away in India, President Trump tweeted similar guidance.
Less than 24 hours late, an industry average of the Dow Jones fell with another 879 points. At least in the short term, it brought Kudlow and Trump’s investment advice under greater scrutiny.
Kudlow, Trump, and other White House officials have tried to express the rosy sheen about the economic impact of the coronavirus outbreak. Nevertheless, that have now collided with reality: the COVID-19 spreads quickly to more countries. The epidemic is wreaking havoc on global supply chains, and the death toll is rising.
The White House’s efforts to control and contain government messaging on the disease have come under attack. Trump is highly concerned about the market and is encouraging aides not to give predictions that might cause further tremors. On Wednesday, he will talk with officials, said aides, who spoke on the condition of anonymity to discuss private conversations.
Trump has devoted the majority of his public statements to slam democrats or complains about the criminal justice system, at least publicly. Nevertheless, he has never engaged much concerning the coronavirus. He just played down what he believes the impact would be on the United States. Trump became furious concerning the stock market’s slide privately, according to two people familiar with the United States President Donald Trump’s thoughts. They spoke with the condition of anonymity to share intimate details.
Trump and Coronavirus
Trump spent the last two days traveling around India. He watched the stock market fall firmly and believes that extreme warnings from the Centers for Disease Control and prevention have spooked investors. Alex Azar is the Health and Human Services Secretary. Some White House officials are unhappy about how Alex Azar handled the situation.
On Tuesday afternoon, Azar held a news conference which struck a markedly less concerned tone about the virus’s impact on the United States. The Dow flirted with its second-straight 1,000-point drop. The market didn’t budge by that point.
Trump had a trip to the World Economic Forum in Switzerland in January. He dismissed questions concerning the coronavirus’s impact in the United States.
At that time, Trump told CNBC that they have the situation was totally under control. At that time, there was only one confirmed case in Washington. About that, Trump said that it’s only one person coming in from China. So, they can manage the situation. He said that everything would be fine.
Nevertheless, now in the United States, there are more than 50 people infected with coronavirus. Health officials forecast that the number will continue to grow.
Nancy Messonnier is a top CDC official. On Tuesday, she told reporters that the coronavirus impact on the United States might seem overwhelming and that disruption to everyday life can be severe.