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Dow Braces for 4th Straight Beating as ECB Pinch-Hits for Trump

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The New York Times
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Nevertheless, that border crossing spike is happening on his watch, and he has not been able to negotiate a compromise with Democrats or keep his own party in line.Trump Only Wants a Trade Deal so He Can Pump the Plunging Dow— (@CCNMarkets) March 6, 2019Then there’s the seemingly never-ending trade war with China, which – despite Trump’s promises – failed to prevent the US trade deficit from ballooning to a new record.And yesterday, NBC News reported that North Korea had begun rebuilding a long-range missile launch site, just a week after President Trump boasted that he had secured Kim Jong-Un’s promise that his government would not initiate any new missile tests.Suffice to say, it’s not been a banner week for the president, and the stock market’s disappointing performance hasn’t helped.Donald Trump’s “Plunge Protection Team” – the nickname for the president’s Working Group on Financial Markets – has done a remarkable job at stabilizing the stock market since it first convened on Christmas Eve.In the less than three months that followed that phone call, the Dow surged by nearly 20 percent from its low at 21,792.20, notching nine consecutive weeks of gains.Donald Trump’s Plunge Protection Team convened on Dec. 24, and the Dow surged nearly 20 percent in the less than three months that followed.

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