Now that mainstream Americans are accurately blaming Donald Trump’s racist rhetoric for this past weekend’s white supremacist shooting in El Paso, he’s been backed into a no-win corner. He tepidly tried to renounce his own racism this morning, but no one is buying it – and now he risks alienating his racist base. So can things get even worse for Trump? It sure looks like they’re about to.
As part of an ongoing three-day plunge, the Dow Jones Industrial Average dropped by more than seven hundred points today. Donald Trump initiated the selloff on Thursday afternoon when he announced new tariffs on Chinese goods, which Wall Street knows is a dumb idea. Things got even worse today when China predictably announced retaliatory measures that will only end up hurting the economies of both nations.
It was bad enough for Trump that the one “bragging point” he has – that he hasn’t yet fully wrecked the Obama economy – began falling apart on him today. The kicker is that it looks like it’s going to get a lot worse for Trump tomorrow morning.
Dow Futures are down a whopping five hundred points right now in aftermarket trading. That number can change before the stock market officially opens tomorrow, of course. But last night the Dow Futures were down roughly three hundred points at one point, and sure enough, the Dow Jones lost more than seven hundred points today. So unless something unexpected happens with trading overnight to reverse the ongoing downward trend, Trump is about to get hit with yet another round of negative headlines tomorrow about how the stock market is plummeting under his watch.
Bill Palmer is the publisher of the political news outlet Palmer Report