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Trump claims investors 'don't like Joe,' even as stocks post huge gains following Biden's Super Tuesday triumph

Mar 5, 2020, 03:01 IST
  • Trump claimed investors on Wall Street "don't like Joe," though stocks posted huge gains only a day after Biden's huge victories on Super Tuesday.
  • "They don't like Joe either," Trump said at the White House.
  • The Dow Jones Industrial Average surged over 1,000 points following Biden's string of victories on Super Tuesday.
  • Visit Business Insider's homepage for more stories.

President Trump claimed that Wall Street investors do not support former Vice President Joe Biden, despite the stock market posting huge gains a day after the Democratic presidential candidate scored massive primary victories on Tuesday.

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"They don't like Joe either," Trump said at the White House. "A lot of people are with Joe. If you look at those people, they're worse than Bernie, in terms of being radical left," appearing to refer to his moderate base of supporters.

The Dow Jones Industrial Average surged over 1,000 points following Biden's string of 10 victories on Super Tuesday. The S&P 500 and Nasdaq also posted gains of over 3%.

Healthcare stocks also boomed after the latest developments in the primary, given Biden's moderate platform aimed at incremental reforms instead of completely overhauling the sector as his main progressive rival would.

Biden racked up critical wins on Tuesday, mounting an astonishing comeback in recent days and setting the stage for a showdown with Sen. Bernie Sanders for the Democratic nomination.

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The markets showed initial signs of stabilizing after a period of tumult over the spread of the coronavirus and its effect on global economies.

Stocks shed over $6 trillion in wealth last week, and an emergency interest-rate cut from the Federal Reserve did little to soothe the rattled nerves of investors. The Dow plunged 800 points on Monday after the Fed unexpectedly took action.

As of Wednesday, the coronavirus has infected more than 94,000 people in at least 80 countries beyond China, its point of origin. And the death toll has surpassed 3,200 people, mostly in China. There are at least 128 confirmed cases in the US.

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