During this morning's Varney & Co., after Trump's sycophantic host read off more derogatory Trump tweets against China, the stock market tanked much worse after its initial bad opening.
As many stock market business analysts have stated even on FOX Business, August is typically one of the calmest months of the year while September is historically the most negative.
Trump sent the stock markets spiraling with this trade war and tariffs against China this August and today he continued his trade war assault.
Stuart Varney opened up his program by saying September is a tough month for investors and came up with a new talking point to deflect Trump's negative actions during his China trade wars: "A Headline Driven Market"
"September's a tough month for investors and we are starting out this September with a selloff," he said.
Varney said, "So what's going on? One word, tariffs."
Soon after, Varney brought on one of his regulars, Scott Shellady, who's known as the cow guy to discuss.
Varney said, "We have a 200 point drop for the Dow coming up. That's the way it looks at the opening bell this morning. Market watcher Scott Shellady is with us. Is this all about the new tariffs that went into effect Sunday and the headline-driven market?"
(See, it's really the media's headlines that are destroying the markets and not Trump's actions)
"I think 100% that's the case," Shellady said.
He continued, "I watched all weekend. Now we are on the lows so this is 100% the tariffs."
Varney said, "We've got worries that the consumer will be affected by these tariffs, as in paying more, worries that the global economy will slow down a bit more because the tariff wars-- the trade wars keeping going and worries we see no end in sight. That's the problem here with tariffs, right?"
Shellady replied, "Yeah, you're exactly right. I have said this before. i don't want to be an alarmist but ..."
Later on the show Varney read off Trump's "hard-line tweets. " Stuart tried to massage people's fears by saying, "which may have set the market down just a tad more."
No, Stuart. Trump's tweets dropped the markets significantly.
The Dow went from -200 to -350 very quickly.