As markets plunge amid recession fears, President Trump plays the blame game

The Dow lost 800 points amid growing recession fears and the president blamed his own Federal Reserve chair as new polls show a dip in his approval rating. [View in browser]( [Image]( AUGUST 14, 2019 [Image](ttps://www.msnbc.com/11th-hour/watch/day-937-as-markets-plunge-amid-recession-fears-trump-plays-the-blame-game-66136133530) Wall Street [took a battering]( on Wednesday, suffering its worst day so far this year after movements in the bond market signaled the sharpest indication yet of an approaching recession. The [market selloff was a result]( of an ["inverted yield curve"]( in government bonds. Ali Velshi, on MSNBC earlier Wednesday, explained [why the in]([dicator matters to economists](. On All In Wednesday, Velshi provided more context: So, this afternoon as the stock market was tumbling, President Trump was definitely NOT panicking. As the market was moving lower and lower, President Trump unleashed two tweets where he managed to brag about his trade war with China, lie about the economy, blame the Fed and its chairman, and demonstrate a clear lack of understanding about how global economies work. [Image](ttps://www.msnbc.com/11th-hour/watch/day-937-as-markets-plunge-amid-recession-fears-trump-plays-the-blame-game-66136133530) Velshi continues: To be fair, recessions happen. The United States is actually overdue for one. But given the indicators that a recession could be around the corner, why would the president continue to exacerbate the situation?... He continues to escalate his trade war with China [even after admitting]( that his tariffs harm American consumers. [Politico reported]( before Wednesday's big stock market drop that "Instead of blaming the Fed, Wall Street economists are citing Trump himself as the biggest anchor on markets and the economy." A recession is the last thing Donald Trump wants as he is up for re-election next year. In Case You Missed It: Videos from MSNBC Today [Image]( [Former Deputy National Security Adviser Rhodes: President Trump is an embarrassment on the world stage]( "The kind of nationalist and authoritarian politics that Trump promotes at home, that’s what these leaders are doing abroad,” former Deputy National Security Adviser Ben Rhodes says. (MTP Daily) [Facebook]( [Twitter]( [Image]( [New calls for Rep. Steve King to resign]( The Iowa Republican with a history of making racist comments is now wondering if humanity would exist without rape or incest. (All In) [Facebook]( [Twitter]( [Image]( [Booker: Police officers among strongest gun safety law advocates]( Senator Cory Booker, 2020 Democratic candidate for president, reacts to the breaking news of a shootout in Philadelphia in which a suspect has injured several police officers, and talks with Rachel Maddow about the collective trauma communities suffer as a result of pervasive gun violence in the United States. (Rachel Maddow) [Facebook]( [Twitter]( More Videos - [Michael Bennet on breaking news that Hickenlooper will end presidential bid (Last Word)]( - [Sen. Mitch McConnell’s treatment of Russia under scrutiny again (Deadline: White House)]( - [McConnell at nexus of increased Russian leverage on U.S. (Rachel Maddow)]( - [Poll: Most voters say Trump is tearing the country apart (11th Hour)]( - [123 House Democrats now support impeachment (All In)]( - [One More Thing: President Trump repeatedly mentions Barack Obama during Pennsylvania speech (MSNBC Live)]( - [Dozens of workers let go from Mississippi plant after ICE raid (MSNBC Live)]( - [Inside the Koch brothers’ business and political operations (Ali Velshi)]( - [#ForFactsSake: Cuccinelli’s claim about the 'public charge rule' is wrong (Velshi & Ruhle)]( - [Get your luxury bunker now while supplies-- and the earth-- last (MTP Daily)]( [Latest from NBC News]( Quote of the Day [“The world's on fire and Trump is musing publicly about his poll numbers in battleground states, his love of umbrellas and trucks, and President Obama's book deal.”]( — Nicolle Wallace on Deadline: White House ([Video]() Opinion and Features [OPINION.]( Stock market drops and China trade woes evoke the trauma of 2008 — but don't panic (yet). The scars from the Great Recession of 2008 run deep. The memory of that fall from the best to the worst of times has locked us into this all-or-nothing view, where every unpromising sign seems like it might set off another tragedy for U.S. businesses, workers and homeowners. But we need to move past that collective trauma, because it’s stoking panic and distorting our sense of economic reality. by [Evan Horowitz](, director of research communication at FCLT Global. [CONSUMER FEATURE](. When the market tanks, what should you do? If you’re inclined to check your 401(k) or other investment account balances, think again. You may feel an irresistible urge to look at where you are financially. Don’t. Dan Ariely, professor of behavioral economics at Duke University, said that is opposite of what you want to do. “Volatility is inherently frightening,” Ariely said. “Being frightened means that we are paralyzed, we think about it too much.... It influences our well-being, and it doesn’t necessarily lead to good decisions.” by [Lorie Konish](, CNBC What to watch Thursday Former Rep. Beto O’Rourke plans to deliver a major address Thursday morning, offering a reset of his presidential campaign and a new focus after the mass shooting in his hometown of El Paso, Texas. Later Thursday: President Trump heads to Manchester, N.H. from his Bedminster working vacation to headline a “Keep America Great” campaign rally. Several counter protests are expected. We’ll bring you the latest, as news warrants. This newsletter was prepped for you by Cameron Taylor Oakes and Sam Go. Tell us what you think of the news and [drop us an e-mail.](mailto:msnbc.digital.editors@nbcuni.com?subject=MSNBC Daily) Check out [our new YouTube feature](, "The Day That Was," a review of MSNBC's primetime coverage. Videos will be posted mornings at 7:30a.m. ET. Were you forwarded this email from a friend? [Subscribe here](. 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