People immediately envisioned more crushing government restrictions coming.
The S&P 500 was down 2.3%, on pace for its worst day since February. Airlines and other travel stocks sank as health officials in Europe and the U.K. moved quickly to propose suspending air travel from southern Africa. The price of oil fell more than 13% amid worries of another slowdown in the global economy.
The blue chips were down 950 points by midday trading to 34,857. The Nasdaq Composite was down 2%.
Marketwatch said it was on track to be the worst Black Friday in 70 years.
As we reported, the Biden team was in utter confusion in response to the announcement of the new variant, with Dr. Anthony Fauci appearing on CNN and saying they weren’t thinking about banning travel yet from affected areas. Then Joe Biden, a couple of hours later, saying he would be banning travel from eight African countries based upon Fauci’s recommendation to do so, earlier in the day before he went on television. What a clown show. Then having made that decision, Biden said it wasn’t going to go into effect until Monday, which makes no sense if you’re trying to respond immediately to it.
A reporter managed to track Biden down on his Thanksgiving holiday in Nantucket, RI, where he’s staying at a billionaire’s compound with family members, and asked him what he thought about the precipitous dive in the stock market.
Biden’s response was classic Biden: basically, ‘how dare you suggest anything that happens under me is bad? How is this bad?’
When asked if the stock market's worst day of the year following a massive sell-off concerns him, Joe Biden says, “Not at all. Why would it?” pic.twitter.com/SxJHfDoO8l
— RNC Research (@RNCResearch) November 26, 2021
“What about the markets dropping, sir?” he was asked. “The markets have dropped significantly today. What’s your response to that?”
“Expected. They always do when COVID rises,” Biden responded.
“Does it worry you at all,” the reported queried.
“Not at all,” Biden replied. “Why would it?”
Of course, it wouldn’t bother him. Why would it? He’s in Nantucket, safely ensconced at the billionaire’s pad, his money (and that 10 percent) likely secure. His 401(k) isn’t endangered, and he doesn’t have to worry about abiding by more COVID restrictions that even now he’s likely mulling over — he’ll just blow them off anyway, as he has done in the past. If you’re worried, you just need to have “perspective,” like he told Americans they needed over inflation concerns. Talk about out of touch.
Joe Biden lectures struggling Americans, telling them to have some "perspective about where our economy stands today." pic.twitter.com/TQzMmel0vh
— RNC Research (@RNCResearch) November 23, 2021
Need we remind him that he supposedly ran on having a plan to “stop” COVID?
— Dr. Nickarama (@nickaramaOG) November 27, 2021
Yet he had no plan and hasn’t even come close to stopping it. Now, here we are with them talking about the Omicron variant. Of course, it’s ridiculous to say that he could “stop” a virus. But that’s what he tried to sell people and some people bought that. He made all kinds of comments about the way President Donald Trump dealt with the virus. Yet there are more people dead from the virus under Biden — and that’s despite the vaccines provided by Trump, and despite the therapeutics that we have since developed to deal with the virus.
So, who stopped what? Meanwhile his responses have contributed to the bad inflation that Americans are having to deal with now.
This is Joe Biden: we’ve moved from “I will stop the virus” to it’s “expected” that bad things will happen when it “rises.”