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Donald Trump says stock market will crash if he loses US election

Dow tanked 1,000 points as spike in coronavirus cases beyond China spooked investors.

ETMarkets.com|
Last Updated: Feb 25, 2020, 05.04 PM IST
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AP
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NEW DELHI: US President Donald Trump on Tuesday said the stock market, which had just “one bad” day on Monday, will “crash like nobody has seen before” if he loses the forthcoming US presidential election in November.

US stocks plummeted last night with Dow Jones down over 1,000 points as spike in new coronavirus cases beyond China spooked investors. BSE benchmark Sensex tanked 807 points in line with massive selloffs in global equities.

Commenting on the coronavirus outbreak, Trump said, “We are watching the virus situation carefully and have spoken to Chinese President Xi Jinping. We are also spending a tremendous amount on coronavirus effort.”

Addressing India’s top honchos in New Delhi, Trump said the US plans to spend about $2.5 billion in fighting the deadly coronavirus.

“China is working very very hard, I have spoken to President Xi they are working very hard. They had a rough patch and right now it seems they are getting it under control, they are getting it more and more under control so I think it is a problem that is going to go away," Trump said.

The high profile CEO roundtable with Trump included top leaders such as Reliance Industries Chairman Mukesh Ambani, Mahindra Group Chairman Anand Mahindra, Tata Sons Chairman N Chandrasekaran and Aditya Birla Group Chairman Kumar Mangalam Birla.

China reported the outbreak of novel coronavirus on December 31, 2019. On Monday, Chinese officials said the death toll has climbed to 2,592, while the total number of confirmed cases increased to over 77,000.

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