The reason the markets are tanking is because they are DESPERATE for leadership from POTUS. The markets are as desperate for leadership as these dummies in this new story and the rest of the country. Hell people are projecting their hopes on Drumpf. Everybody wants him to lead like Governor Cuomo is leading in NY and Governor Newsome is leading in CA. They want POTUS to engage in straight talk, tell us how bad things really are and where we got from here. Instead, the snake-oil salesman and chief promises a miracle cure like his televangelist buddies and the markets rally a little, then the medical people are forced to shoot it down and the markets tank.
If Combover Quisling just owned up and admitted that: this response will be measured in months not weeks; we are trying to limit the number deaths that come with overwhelming our healthcare system this includes the deaths of young, healthy people; it this response WILL have a negative effect on the economy from which it will take time to recover; for now the best course of action is continued self-quarantine and social distancing; yes we were slow to get tests approved and to the market and I take responsibility for that (because a leader takes responsibility for anything that happens under his purview just like President Obama took responsibility for the bad roll-out of the Obamacare website). He should also say (and do) the following: The federal government is doing everything it can to secure needed medical supplies and equipment for the states; we have activated the military to assist with overcoming the current and expected shortage of hospital beds; we are working on a plan with the House and the Senate to make sure people will emerge on the other side of this crisis as whole as possible. If he did and said these things, the markets would likely rally because they had faith that the crisis was in good hands.
Remember that the Obama Admin lead the country through health crises with H1N1 and Ebola and yet still managed to hand off a very healthy economy and more than doubled the Dow in eight years. Drumpf's dithering and lack of leadership has managed to destroy that economy and destroy three plus years in Dow gains in a matter of two months.