The Dow Jones stock market fell from 29,551 to 21201 in the last month due to the coronavirus panic.
That’s 8,351 points in one month.
There have been 48 deaths blamed on the coronavirus in the US.
There have been 2,269 confirmed cases of coronavirus in the US.
At least 23 of those deaths were at on senior center in Kirkland, Washington.
On Friday the economy came roaring back, up 9.4%, during President Trump’s announcement of an expansive public-private effort to battle the Chinese coronavirus.
It is hard to imagine how this pandemic was able to crash the economy by 8,000 points in one month with only 48 coronavirus deaths in the US as of Friday afternoon.
But one person was not surprised with the stock market crash this week.
George Soros predicted this would happen two months ago.
Soros told Davos attendees that the economy was “overheated” could be headed into calamity.
Business Insider reported:
The liberal billionaire investor George Soros said the American economy under President Trump is at risk of “overheating” as a result of the administration’s pro-business approach ahead of the competitive 2020 election.
Soros, an 89-year-old Democratic megadonor, made the warning at an informal dinner with guests at the World Economic Forum in Davos, Switzerland, CNBC first reported.
“Trump’s economic team has managed to overheat an already buoyant economy,” Soros said at the elite gathering of corporate titans and wealthy investors.
He added: “The stock market, already celebrating Trump’s military success, is breaking out to reach new heights. But an overheated economy can’t be kept boiling for too long. If all this had happened closer to the elections, it would have assured his reelection.”
Soros also said, “His problem is that the elections are still 10 months away, and in a revolutionary situation, that is a lifetime.”
Financial experts tell The Gateway Pundit this week’s market crash may have been caused by professional short-sellers.
Wall Street short sellers are attacking the market to make a killing, tank the economy, and get Trump out of office.
Trump must reinstate the uptick rule to stop this now!