Things have gotten so bad, Fox News is finally blaming Donald Trump for the economy.
After the Dow Jones Industrial Average plunged 890 points Monday, pulling back from a drop of 1,100 points at one point, Fox News hosts openly blamed the disorganization of the Trump administration.
“The Commerce Secretary and the President are having different messages on the same day,” said guest Jonathan Kott, a former adviser to ex-Senator Joe Manchin. “That’s not giving the market any sort of ease or certainty for investors. So, I wouldn’t be surprised if we have an even greater crash.”
“The Dow is 1,500 points below where it was when Trump took office—that’s not a good look,” host John Roberts noted.
The broader S&P 500 also plummeted Monday, dropping by 2.7 percent. The Nasdaq Composite dropped by four percent.
Last week, Trump’s steep tariffs on some of the U.S.’s closest trading partners, Canada, Mexico, and China, led to a major sell-off in the stock market, and a volley of new forecasts predicting a recession on the horizon. Washington Post economic columnist Heather Long said on MSNBC that it was “hard to envision” prices coming down amid the ensuing trade war.
In the wake of the harsh reality check about tariffs, the Trump administration’s messaging on this massive sell-off has been confusing.
During an interview on Fox News Sunday, Trump refused to answer easy questions about whether the U.S. economy was headed for another recession, saying, “I hate to predict things like that. There is a period of transition because what we’re doing is very big.” It seems that Trump’s inability to say whether there would be a recession has only sowed more doubt in the market this week.
Meanwhile, Secretary of Commerce Howard Lutnick insisted on NBC News’s Meet the Press Sunday that Americans should “absolutely not” brace for a recession, and that the country was headed for a period of “transition.” And last week, Treasury Secretary Scott Bessent warned that the U.S. economy might enter a “detox period.”
This story has been updated.
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