The Dow Jones Industrial Average dropped more than 500 points and the Nasdaq composite sank following President Donald Trump’s tweet in which he called for postponing the 2220 presidential election, though that would require an act of Congress to do.
The Dow Jones fell 506 points, or 1.8%, to 26,087.99, the S&P 500 .SPX lost 44.29 points, or 1.36%, to 3,214.15 and the Nasdaq Composite dropped 99.48 points, or 1%, to 10,443.47, according to Reuters. Dismal earnings reports and weaker-than-expected German GDP data added to an already sour mood.
In currencies, the dollar index fell 0.15% and remains on course for its worst monthly performance in a decade.
“With Universal Mail-In Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE & FRAUDULENT Election in history. It will be a great embarrassment to the USA. Delay the Election until people can properly, securely and safely vote???” Trump tweeted.
With Universal Mail-In Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE & FRAUDULENT Election in history. It will be a great embarrassment to the USA. Delay the Election until people can properly, securely and safely vote???
— Donald J. Trump (@realDonaldTrump) July 30, 2020
