MSNBC

MSNBC 5 Mar 2020

Coronavirus Fears Are Tanking Markets. That Has Trump Worried.

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The economy and numbers on Wall Street have been the backbone of Trump's re-election argument. But coronavirus fears are talking markets worldwide, and that reportedly has Trump concerned. We talk to Philip Rucker. Aired on 3/5/2020.


Investors are on the retreat world-wide as fears of the coronavirus deepen. Supply chains are starting to falter and tourists are staying home. The virus is also sparking the sell-off of pandemic bonds. As the business community struggles to predict the coronavirus' economic fallout, observers warn the virus could be the final blow that throws the world economy into recession. The Dow Jones had its worst one day point drop in history, tumbling almost 4 and a half percent. That sentiment spilled over to Asia with Tokyo's Nikkei shedding 3 point 6 percent today. And Hong Kong's Hang Seng also closed down 2 point 4 percent.
The Coronavirus is hitting Manhattan's Chinatown hard.
Some restaurants are reporting a drop of 50 to 70 percent in business over the past two weeks.
Fears of the virus and the halt in tourism from China is to blame.
Local leaders are concerned. They've launched a campaign called "Show Some Love Here" to encourage people to return.
Trump used a briefing meant to calm fears about the coronavirus to say stock markets are down because of fears about the Democratic candidates. But markets are down worldwide, and it's because of coronavirus. Aired on 02/26/20.
Despite the worst day on Wall Street in two years, Trump says don't worry about coronavirus and the stock markets are fine.

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THEY’RE GOING TO SEE THE MARKETS PERHAPS CONTINUE TO PLUMMET AND
PERHAPS CONTINUE TO PLUMMET AND THIS IS A MOMENT WHERE THE
THIS IS A MOMENT WHERE THE PRESIDENT’S ABILITY TO CREATE
PRESIDENT’S ABILITY TO CREATE HIS OWN REALITY MAY REALLY BE
HIS OWN REALITY MAY REALLY BE TESTED.
TESTED. >> PHIL RUCKER, I WANT TO PLAY
>> PHIL RUCKER, I WANT TO PLAY FOR YOU AND OUR AUDIENCE A
FOR YOU AND OUR AUDIENCE A MOMENT THAT HAPPENED ON CNBC ON
MOMENT THAT HAPPENED ON CNBC ON LIVE TELEVISION EARLIER TODAY.
LIVE TELEVISION EARLIER TODAY. WE’LL DISCUSS ON THE OTHER SIDE.
WE’LL DISCUSS ON THE OTHER SIDE. >> THINK ABOUT HOW THE WORLD
>> THINK ABOUT HOW THE WORLD WOULD BE IF YOU TRIED TO
WOULD BE IF YOU TRIED TO QUARANTINE EVERYBODY BECAUSE OF
QUARANTINE EVERYBODY BECAUSE OF THE GENERIC-TYPE FLU.
THE GENERIC-TYPE FLU. I’M NOT SAYING THIS IS THE
I’M NOT SAYING THIS IS THE GENERIC-TYPE FLU, BUT MAYBE WE’D
GENERIC-TYPE FLU, BUT MAYBE WE’D BE BETTER OFF IF WE GAVE IT TO
BE BETTER OFF IF WE GAVE IT TO EVERYBODY, AND THEN IN A MONTH
EVERYBODY, AND THEN IN A MONTH IT WOULD BE OVER BECAUSE THE
IT WOULD BE OVER BECAUSE THE MORTALITY RATE OF THIS PROBABLY
MORTALITY RATE OF THIS PROBABLY ISN’T GOING TO BE ANY DIFFERENT
ISN’T GOING TO BE ANY DIFFERENT IF WE DID IT THAT WAY THAN THE
IF WE DID IT THAT WAY THAN THE LONG-TERM PICTURE.
LONG-TERM PICTURE. BUT THE DIFFERENCE IS WE’RE
BUT THE DIFFERENCE IS WE’RE WREAKING HAVOC ON GLOBAL AND
WREAKING HAVOC ON GLOBAL AND DOMESTIC ECONOMIES.
DOMESTIC ECONOMIES. >> SO TELL US WHERE TO LINE UP
>> SO TELL US WHERE TO LINE UP FOR THE CORONAVIRUS.
FOR THE CORONAVIRUS. THAT ACTUALLY, AS I SAID,
THAT ACTUALLY, AS I SAID, HAPPENED ON LIVE TELEVISION
HAPPENED ON LIVE TELEVISION TODAY.
TODAY. AND LET’S JUST TAKE A FLYER AND
AND LET’S JUST TAKE A FLYER AND DISMISS THE IDEA HE’S FLOATING
DISMISS THE IDEA HE’S FLOATING THERE OF GIVING IT TO EVERYONE.
THERE OF GIVING IT TO EVERYONE. BUT, PHIL, AS NO ONE NEEDS TO
BUT, PHIL, AS NO ONE NEEDS TO REMIND YOU, WHEN THIS GUY GOES
REMIND YOU, WHEN THIS GUY GOES OUT BEFORE A HOMETOWN CROWD, HE
OUT BEFORE A HOMETOWN CROWD, HE HAS TWO MAJOR TALKING POINTS.
HAS TWO MAJOR TALKING POINTS. LOOK WHAT WE’VE DONE FOR YOU ON
LOOK WHAT WE’VE DONE FOR YOU ON FEDERAL JUDGES AND LOOK AT THE
FEDERAL JUDGES AND LOOK AT THE TRUMP ECONOMY.
TRUMP ECONOMY. DOES THIS MEAN, IN EFFECT, HE’LL
DOES THIS MEAN, IN EFFECT, HE’LL BE DOWN TO THE ONE TALKING
BE DOWN TO THE ONE TALKING POINT?
POINT? >> HE MIGHT BE, BRIAN, AND
>> HE MIGHT BE, BRIAN, AND THAT’S WHY THE PRESIDENT IS SO
THAT’S WHY THE PRESIDENT IS SO CONCERNED AND RATTLED BY THIS
CONCERNED AND RATTLED BY THIS CORONAVIRUS STORY OF THE LAST
CORONAVIRUS STORY OF THE LAST COUPLE OF WEEKS.
COUPLE OF WEEKS. YOU KNOW, IT WOULD BE SO EASY
YOU KNOW, IT WOULD BE SO EASY FOR HIM TO JUST STAY QUIET AND
FOR HIM TO JUST STAY QUIET AND SAY, YOU KNOW, TO THE AMERICAN
SAY, YOU KNOW, TO THE AMERICAN PEOPLE, HERE ARE THE EXPERTS
PEOPLE, HERE ARE THE EXPERTS THAT I’VE APPOINTED TO TAKE
THAT I’VE APPOINTED TO TAKE CONTROL OF THIS SITUATION.
CONTROL OF THIS SITUATION. LISTEN TO THEM.
LISTEN TO THEM. THEY’RE GOING TO TALK TO YOU
THEY’RE GOING TO TALK TO YOU EVERY DAY.
EVERY DAY. I’M GOING TO GIVE THEM ALL THE
I’M GOING TO GIVE THEM ALL THE RESOURCES THAT THEY NEED, BUT
RESOURCES THAT THEY NEED, BUT I’M NOT GOING TO COMMENT ON IT.
I’M NOT GOING TO COMMENT ON IT. I WANT YOU TO HEAR THE FACTS
I WANT YOU TO HEAR THE FACTS FROM THEM.
FROM THEM. BUT THE PRESIDENT CANNOT RESIST
BUT THE PRESIDENT CANNOT RESIST FROM ADDING HIS OWN COMMENTARY,
FROM ADDING HIS OWN COMMENTARY, ADDING HIS OWN FALSE
ADDING HIS OWN FALSE INFORMATION.
INFORMATION. HE IS NO EXPERT IN PUBLIC HEALTH
HE IS NO EXPERT IN PUBLIC HEALTH OR INFECTIOUS DISEASES, YET
OR INFECTIOUS DISEASES, YET KEEPS WEIGHING IN, AND IT SPEAKS
KEEPS WEIGHING IN, AND IT SPEAKS TO HIS INSECURITY AND ANXIETY
TO HIS INSECURITY AND ANXIETY ABOUT THE ECONOMY.
ABOUT THE ECONOMY. HE’S WATCHING THAT STOCK MARKET.
HE’S WATCHING THAT STOCK MARKET. HE SEES IT AS A BAROMETER FOR
HE SEES IT AS A BAROMETER FOR HIS RE-ELECTION HOPES.
HIS RE-ELECTION HOPES. HE KNOWS IF THE ECONOMY DIPS
HE KNOWS IF THE ECONOMY DIPS OVER THE LONG HAUL HERE OVER THE
OVER THE LONG HAUL HERE OVER THE NEXT FEW MONTHS THAT THAT SPELLS
NEXT FEW MONTHS THAT THAT SPELLS DISASTER FOR HIS RE-ELECTION,
DISASTER FOR HIS RE-ELECTION, AND SO HE’S TRYING TO USE EVERY
AND SO HE’S TRYING TO USE EVERY TOOL IN HIS TOOL KIT, INCLUDING

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