At the time, Trump was assuring Americans on Twitter that the coronavirus was “very much under control” and claiming the stock market was “starting to look very good to me!”
Word of private uncertainties held by US officials quickly spread to elite investors via a hedge fund consultant, the Times reported. That intel gave these traders a crucial leg up on common investors, allowing them to make timely bets that stocks would drop.
“Short everything” was the reaction of one major investor briefed on the memo from the hedge fund consultant, the Times said.
What’s happening: Trump, who remains heavily medicated, is still infected with the coronavirus. However, his physician Dr. Sean Conley said it had been 72 hours since Trump’s last fever and that his oxygen levels were normal, insisting that the president met the criteria to be discharged.
Optimism about Trump’s condition, along with stimulus hopes, drove a sharp recovery
in stocks on Monday. The S&P 500 finished 1.8% higher, while the Nasdaq Composite gained 2.3%.
Yet tons of variables remain, preventing the momentum from spilling over into another trading session.
Investors don’t have great information to work with. Conley — who … Read more