President Donald Trump quickly blaming the Dow Jones market plunge on former President Barack Obama is satirical news. There is no truth to a report that Trump was responding to the recent market drop by putting the blame on his predecessor. It would not be surprising if Trump were to have tweeted it out as he has previously placed the fault of many of the U.S. problems on Obama.On Feb. 5, 2018, the Dow Jones industrial average shed 1,175.21 points to 24,345.75 and briefly declined more than 1,500 points. The 30-stock index also briefly traded flat earlier in the session, before the selling returned. Overall, the Dow traveled more than 5,100 points during the session.Where did the satirical news originate? The Babylon Bee published the satirical news article on Feb. 5, 2018, reporting that Trump tweeted out to his followers that Obama was to blame for the plunge the stock market recently took. You can read the satirical news below.
WASHINGTON, D.C.—In a flurry afternoon tweets, President Donald Trump blamed previous president Barack Obama for the stunning 1175-point drop suffered by the Dow Monday, in a sudden about-face from his normal position of taking credit for the positive stock market action experienced in the first year of his presidency.
As soon as the market closed, Trump took to Twitter to blast President Obama, who hasn’t been in office for over a year.
“Can’t believe Obama ‘tanked’ the Dow yet again! Sad!” Trump tweeted. “Dems are bad on business, bad for our economy. Not good!”
The President went on to claim that Obama’s “weak” and “very bad” policies had led to the market downturn, but promised that he would make it “truly great again” once he’s allowed to “get all of O’s fingerprints off our economy” in the coming years.
However, there is no truth to the above story. What is the problem with this story? For one thing, there is no record of Trump having tweeted such a comment on his timeline. Finally and most importantly, The Babylon Bee describes itself as “your trusted source for Christian news satire.”
The Babylon Bee is a satirical evangelical Christian website. The site is famous for over-the-top fake stories focusing on well known pastors, celebrities, and politicians.
Here are some examples of people sharing the satirical news on social media.
Trump Quickly Blames Market Plunge On Obama https://t.co/CV1GTOwbet
— Tammy (@TammyJo19267312) February 6, 2018
Trump Quickly Blames Market Plunge On Obama https://t.co/QSlOmHr7Ql
— Jeff Bankens (@JeffTRexBankens) February 6, 2018
Trump Quickly Blames Market Plunge On Obama https://t.co/r4YKeIIb98
— Al McCoskey (@ald_mcc) February 6, 2018
— Ashor DeKelaita (@AshorDeKelaita) February 5, 2018
The Dow Jones Industrial Average rallied and shot up 568 points, a day after it plunged a record 1,175 points. The Dow closed at 24,912, a 2.33 percent gain, while the S&P 500 finished up 46.27 points to 2,694, a 1.75 percent increase. The Nasdaq Composite soared 148 points to 7,115 — a 2.13 percent hike.
What did you think of the satirical news that Trump was now blaming Obama for the recent stock market plunge? Did you believe the satirical news or see people sharing it falsely on social media? Let us know in the comments section.
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Author: Shawn Rice