President Donald Trump said Tuesday he was surprised by the resiliency of the stock market amid the Iran conflict and assumed the financial damage would be even worse.
In a CNBC interview, the president said he anticipated the Dow Jones Industrial Average and S&P 500 would have fallen by 20% — the benchmark for a bear market — and oil would be as high as $200 a barrel.
“If you would have told me that oil is at 90 as opposed to 200 I would be frankly surprised,” Trump said on “Squawk Box.” “And you know what is happening? Boats are finding other sources. They’re going up to Texas and Louisiana. They’re going to Alaska, they’re going to other places. It’s an amazing phenomenon.”
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