Watch: Biden Says He's 'Not at All' Worried After Dow Has Worst Day of Year, Americans Panic
The Dow Jones Industrial Average fell 905 points Friday, which was the worst day for the stock market index all year.
So what were President Joe Biden’s thoughts?
Big whoop.
“The Dow dropped significantly today, what’s your response to that?” a reporter asked Biden on Friday while he was in Nantucket, Massachusetts, for Thanksgiving.
“Expected. They always do when COVID rises,” the president replied.
“It doesn’t worry you at all?” the reporter pressed.
“Not at all. Why would it?”
“Why would it?” Biden responds when asked if he’s at all concerned about the market’s worst day of the year. The guy is so out of touch. pic.twitter.com/tCEkTV2Pc2
— Jake Schneider (@jacobkschneider) November 26, 2021
While Biden was right that the stock market drop was to be expected one day after World Health Organization officials expressed concern about the new omicron variant of the coronavirus, it’s his answer afterward that should disappoint Americans.
The stock market is only one measure of the economy at large, but the fact that the president explicitly said he was not concerned — and seemed bewildered that anyone would be — might come across to many Americans as carelessness.
Even though the average American isn’t a high-powered investor with a huge stock portfolio, tens of millions have 401(k) retirement funds.
And this stretches further than just the investing world, as consumers are dealing with higher prices everywhere from retail stores to the gas pump.
Consumer prices are up 6.2 percent compared with last year as of October, and gas has soared to a national average of $3.39 a gallon, according to AAA.
Even still, investors vote, and Biden’s seeming lack of concern about their portfolios isn’t likely to sit well with them.
In fact, many people who have stock market investments and lost money Friday are the suburban voters whom the Democrats are counting on in the 2022 midterms.
❓What impact has the news about the variant had?
? Stocks tumbled around the world Friday as news of the variant spooked markets. The Dow Jones Industrial Average fell 905 points. The S&P 500 lost 106.84 points. The Nasdaq Composite dropped 353.6 points.
— The Boston Globe (@BostonGlobe) November 26, 2021
This was poor rhetoric from Biden politically, as a president being dismissive of any economic issue tends not to play well with voters.
Americans have clearly caught on to his aloofness, as his approval rating hit a new low of 42 percent in an NPR/Marist poll last week.
‘Biden hits a new low in the NPR/Marist poll as inflation concerns rise.’ From @NPR: https://t.co/C7illHHYpA
— Byron York (@ByronYork) November 24, 2021
At this point, Biden might as well ask House Speaker Nancy Pelosi to hand the speaker’s gavel to Republicans early.
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