Cramer says Trump’s election delay suggestion ‘sows chaos and chaos is bad for the stock market’

Investing

CNBC’s Jim Cramer said President Donald Trump’s Thursday morning tweet that suggested delaying the November election could cause problems for equity investors. 

“It sows chaos, and chaos is bad for the stock market,” Cramer said on “Squawk on the Street.” 

Dow futures extended their fall slightly in the wake of Trump’s tweet. They then made back some of the decline.

Trump does not have the power to delay the election by himself; presidential elections are set as the first Tuesday of November by a 19th-century law from Congress

Nonetheless, Trump suggested that delaying the election may be necessary because of the threat of the coronavirus pandemic.

Trump claimed that an increased reliance on mail-in voting would result in a fraudulent election — however, there is scant evidence to support the claim that mail-in voting would lead to widespread voter fraud. Twitter in May fact-checked two of Trump’s tweets that made a similar claim about mail-in voting. 

Products You May Like

Articles You May Like

Stocks making the biggest moves in the premarket: Caterpillar, Merck, Chevron, Under Armour & more
Stocks making the biggest moves in the premarket: ADT, Google, Clorox, Eli Lilly, Marathon Petroleum & more
Colorado, Seattle sell note, bond deals as municipal yields decline on the long end
Cramer: Moderna sets ‘pace of overoptimism’ on how quickly a coronavirus vaccine could be ready
Personal Finance 101: The complete guide to managing your money

Leave a Reply