Fox Business host Charles Payne, who was suspended in 2017 over sexual harassment allegations, claimed without any proof that the Democrats were to blame for the stock market slide.
Markets are jittery amid the U.S.-driven trade war, slowing global economic growth, and a cloud around Big Tech. That U.S. economic fundamentals appear strong has not seemed to matter to Wall Street investors.
Stocks also fell as members of the popular “FAANG” trade — which is made up of Facebook, Amazon, Apple, Netflix and Alphabet — fell further into bear market. Amazon, Apple and Netflix all dropped at least 1.7 percent.
Fox Business host Sandra Smith suggested it might be the midterm elections that caused the slide, and Payne, almost as if on cue, jumped in, notes Media Matters:
I think it’s the tone. You know, the very next day the market was up. But since then, the tone of Democrats, who have declared war on President Trump, I think have been a real negative wave for the market.
Particularly, I think Americans want to see legislation, not more investigations. You know, I don’t think they want to see Maxine Waters spending a whole lot of time digging up dirt on Deutsche Bank when people are trying to, you know, live their lives.