Trump alleges 'rich guys' intentionally talk the stock market lower for short-position profits
Some prominent investors using media platforms to warn of a stock market crash are doing so to pad their short positions, President Donald Trump alleged in a Wednesday"When the so-called 'rich guys' speak negatively about the market, you must always remember that some are betting big against it, and make a lot of money if it goes down," the president wrote. "Then they go positive, get big publicity, and make it going up.
"You need to be able to be on the short side of the market in order to facilitate ordinary market trading," he said in an interview with CNBC. warning of a dire market downturn. The March 18 interview helped push stock indexes to intraday lows and drew allegations of fearmongering.Ackman noted later that day he was "confident the president will do the right thing" and institute nationwide lockdowns.
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