Trump tries to shift blame as virus outbreak rattles markets

Coronavirus

FILE – In this Wednesday, Feb. 26, 2020, file photo, stock trader Gregory Rowe works at the New York Stock Exchange. The S&P 500 has lost more than 10% from its record high as worries have built that a fast-spreading new virus will slam economies and corporate profits around the world. That means stocks just went through a “correction” in the stilted parlance of market watchers. (AP Photo/Mark Lennihan, File)

WASHINGTON (AP) – Who is to blame for the plunge in financial markets? President Donald Trump and his allies are returning to a familiar playbook by blaming others for the growing fears about the coronavirus outbreak. It’s a challenging sell for a president who has lashed his fate tightly to Wall Street. Facing a threat to his political future, the president has moved to a deflection strategy, playing down the threat and assigning responsibility to Democrats, the media and the entrenched government bureaucracy. Some of his closest allies have amplified that message and accused the administration’s enemies of hyping the threat posed by the virus.

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