Trump sends signed chart showing stock market gains to supporters after he declared coronavirus a national emergency
President Donald Trump on Friday sent a note to supporters that included a chart showing the Dow Jones Industrial Average dramatically rising roughly at the time he began a news conference declaring a national emergency over coronavirus. The President signed the chart.
Posted — UpdatedThe note, which was also sent to some members of Congress, included screenshots of television coverage of the stock market closing much higher than Thursday.
"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 2,200 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 $50 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 3:29 p.m., 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 20% decline that was the fastest in history.
Friday was the best day for stocks since 2008, but the S&P 500 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 1987 crash.
Copyright 2024 by Cable News Network, Inc., a Time Warner Company. All rights reserved.
