On Thursday morning, just hours after one of the most mind-bending eveningsin recent political memory, Wall Street abruptly stopped trading as stocks took a swan dive and the market chugged headfirst into its first bear territory in more than a decade, amidst the White House’s floundering response to the coronavirus pandemic.
As Lawrence Summers, the treasury secretary under President Bill Clinton and President Barack Obama’s National Economic Council director, succinctly put it:
Lawrence H. Summers✔@LHSummers
.@POTUS sets what I believe is a new world record for presidential market value destruction.
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