NEW DELHI, India (KRON/CNN) – The stock market plummeted a thousand points Monday amid fears about the spread of the coronavirus around the world.
The virus has triggered a growing global supply chain crunch, and Wall Street is scared.
For weeks, President Trump has assured Americans that China has the situation under control.
But Monday’s stock market sell-off showed that Wall Street doesn’t believe those sunny assurances.
With the coronavirus’ spread challenging Trump’s attempt to project optimism, he addressed the threat Tuesday during his trip to India.
“I think that’s a problem that’s going to go away, but we lost almost a thousand points yesterday on the market and that’s something you know – things like that happen where and you have it in your business all the time — had nothing to do with you. It’s an outside source that nobody would have ever predicted,” Trump said.
Just two weeks ago, Trump told the crowd at a rally in Manchester, New Hampshire that the coronavirus would “miraculously” go away come April, once the weather warms up.
As Trump and the White House continue to try to reassure the public that the situation is under control, Democrats are sounding the alarm.
Senate Minority Leader Chuck Schumer on Monday said Trump is “asleep at the wheel” as the threat builds.
The death toll from the coronavirus has risen to more than 2,700 worldwide, with the vast majority in mainland China.
The total number of global cases stands at over 80,000.