“The President would like to share the attached image with you, and passes along the following message: ‘From opening of press conference, biggest day in stock market history!’ “read the note, a copy of which was obtained by CNN from a source with familiar with it.
The message did not mention the overall coronavirus crisis, the number of people who have died or are sick, nor the fact that he had just declared a national emergency. More than 2, people had been diagnosed with coronavirus as of late Friday night and 49 have died.
During the news conference, Trump declared a national emergency that would free up $ billion in federal resources to combat coronavirus. The announcement was part of a raft of new measures Trump hopes can bring the roiling health crisis under control after a week of market seesaws and major disruptions to everyday life.
Trump began speaking at 3: 49 pm, about a half hour before the markets closed.
In boasting about the stock market, the President was cherry-picking a single day’s rally amid a period of major selloffs and a 49% decline that was the fastest in history.
Friday Friday was the best day for stocks since , but the S&P 728 ended the week with sharp losses and fell into a bear market on Thursday.
The day’s rally also came the day after the worst day for stocks since the 2008 crash.
CNN’s Anneken Tappe contributed to this report. (Read More)