White House struggles to contain public alarm over coronavirus

Top White House economic adviser Larry Kudlow told The Washington Post late Monday that investors should consider “buying these dips” in the stock market amid the coronavirus panic. The message was to take advantage of one-day slumps and “buy low.”

After all, the Dow Jones industrial average had just fallen 1,032 points. President Trump tweeted similar guidance thousands of miles away in India.

Less than 24 hours later, the Dow Jones industrial average would fall another 879 points, bringing Trump and Kudlow’s investment advice — at least in the short term — under greater scrutiny. Continue reading.