The stock market roller coaster shows no sign of stopping.
Ever since the Chinese coronavirus began spreading across America the stock market’s wild fluctuations disturbed millions of Americans.
And Wall Street set one record that was Donald Trump’s worst nightmare.
On Monday, the stock market plunged by the largest percentage since “Black Monday” way back in 1987.
The Dow Jones Industrial average plummeted just under 3,000 points in the largest single day point drop in history.
Breitbart reports, “The Dow Jones Industrial Average fell by 2.997 points, or 12.93 percent. The S&P 500 fell 11.98 percent. The Nasdaq Composite fell 12.32 percent. The Russell index of smaller companies fell 14.27.
This was the worst percentage drop since October 1987 for the Dow and S&P 500. It was the worst drop ever for the Nasdaq.
Every sector of the S&P 500 was down, with nine out of eleven down by double digits. Consumer staples were down by 6.99 percent and heath care stocks were down 9.99 percent.”
The stock market was an on 11-year bull run reaching a high of 29,000 in February.
Donald Trump planned to make the market gains and overall health of the economy the centerpiece of his 2020 re-election campaign.
That all changed with coronavirus.
Now the President’s re-election campaign hinges on one issue.
And that will be how the public judges the federal response to the coronavirus.
The early returns on that front are promising.
A Morning Consult poll found 47 percent approved of the President’s response and 43 percent disapproved.
If the public judges the President to have skillfully handled the crisis, then voters will ignore the stock market yo-yoing up and down or the economy going into a coronavirus-induced recession and reward the President with his leadership in a crisis that he did not create with a second term.
Renewed Right will keep you up-to-date on any new developments in this ongoing story.