President Donald Trump traveled to Ohio Monday to deliver a speech about the Republican tax cuts, touting economic gains under his administration, and Fox News followed to cover it live. But during his speech, Fox cut away for an important announcement.
The stock market, specifically the Dow Jones Industrial (DJI) average, took a historic turn, a historic downward turn, dropping 4.27% while Trump spoke.
In the middle of Trump’s speech on jobs, Fox News cuts to this: pic.twitter.com/dMfZN0kQes
— Melanie Schmitz (@MelsLien) February 5, 2018
Trump stated during his State of the Union speech on Tuesday that the New York Stock Exchange (NYSE) continually set records under his presidency. The president frequently focuses on stock market performance as a sign of his success. However most Americans have no investments in the stock market.
The Stock Market has been creating tremendous benefits for our country in the form of not only Record Setting Stock Prices, but present and future Jobs, Jobs, Jobs. Seven TRILLION dollars of value created since our big election win!
— Donald J. Trump (@realDonaldTrump) January 7, 2018
However this latest record, a historic drop, does not fit Trump’s narrative of unparalleled economic success since he took office. And the announcement by Fox News, preempting his speech, came at the least opportune time.
The president stated the GOP tax cuts “set off a tidal wave of good news that continues to grow every single day.” But while he made that statement, banners and pop-ups on Fox News reported the stock market steadily dropping.
The stock market already plunged 666 points on Friday. Trump, while speaking of economic gains Monday in Ohio, failed to mention anything about the stock market.
It remains to be seen if Donald Trump or Fox News will attribute the stock market plunge to the GOP tax plan or the Trump administration in the manner they assigned credit for all gains.
No matter what happens with the stock market, can we all agree it’s reckless and irresponsible for a president of the United States to take credit for everything he thinks is good in America and no responsibility for anything that is bad.
— Keith Boykin (@keithboykin) February 6, 2018
Good time to recall that in the previous administration, we NEVER boasted about the stock market — even though the Dow more than doubled on Obama’s watch — because we knew two things: 1) the stock market is not the economy; and 2) if you claim the rise, you own the fall.
— Jay Carney (@JayCarney) February 5, 2018
For Hannity and Trumpers, the stock market is as simple as black and white. Up is the white direction.https://t.co/75am1mWcwU
— Tea Pain (@TeaPainUSA) February 6, 2018
In the latest episode of ‘The Real HouseHosts of Fox News’
Hannity actually blamed yesterday’s stock market crash on Obama
There is no low too low, to get ratings for Fox reality tv https://t.co/qIqbUyYPtl
— Gamora🔥💖 (@exoticgamora) February 6, 2018