Trump took to Twitter on Wednesday to express his displeasure with prominent investors delivering grim forecasts about the outlook for the economy and the stock market
“ ‘When the so-called “rich guys” speak negatively about the market, you must always remember that some are betting big against it, and make a lot of money if it goes down. Then they go positive, get big publicity, and make it going up. They get you both ways. Barely legal?’ ”
iframe.twitter-tweet { width: 100% !important; } The 45th U.S. president’s comments come as the Dow Jones Industrial Average DJIA, -2.20%, the S&P 500 index SPX, -1.97%, and the Nasdaq Composite Index COMP, -1.92% are trading sharply lower as Wall Street attempts its own assessment of the prospects for the economy in the aftermath of the COVID-19 pandemic —the worst public-health disaster in more than century.
“The scope and speed of this downturn are without modern precedent, significantly worse than any recession since World War II,” Powell said in remarks to the Peterson Institute for International Economics. Still, equity markets, although they are down significantly from their February peaks, have rallied since hitting a low on March 23.
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