Michelle Price claims Kamala Harris campaign 'coming back down to earth' after US stock market plunges

WASHINGTON, DC: Michelle Price of the Associated Press cautioned during a panel discussion on CNN on August 5, that following the sharp decline in the US stock market, the excitement surrounding Vice President Harris's campaign may be "coming back down to earth."

"They just a little bit ago this morning, posted the ‘brat’ meme with ‘the stock market is tanking’ in the font," Price said during a panel discussion on CNN, noting that the Trump campaign was making fun of the vice president with Kamala Harris memes during a CNN panel discussion.

US stocks tumble as it continues to stoke fears of a recession

US stocks continued their steep decline following a global sell-off as trading got underway. The decline is still fueling recessionary fears. 

"That everything that has been in this honeymoon period might seem kind of silly compared to when people are looking at their 401Ks or when they’re going to start looking at gas prices, or they’re looking at what it costs at the grocery store, that the hype that is kind of coming back down to earth. We might be entering that phase that the Trump campaign has been waiting for," Price said.

Kamala Harris needed to be careful to not make the same mistakes

According to CNN's John Berman, Harris must exercise caution to avoid drawing "a super rosy picture when people might not be feeling it," as President Biden did when discussing the economy. Harris has been aware of the sentiment among Americans regarding the economy, according to Berman.

"It gets more challenging if the numbers aren‘t so good. So that is something that the Harris team, I don‘t think, were thinking about when they began their campaign 15 days ago. But now [they] have to think about it," Berman said, per Fox News.

Dow Jones industrial average tumbles by as much as 1,300 points

The Dow Jones Industrial Average tumbled by as much as 1,300 points, while the Nasdaq Composite and S&P 500 also fell. The world's largest economy's declining manufacturing activity, along with gloomy predictions from major technology companies, resulted in a correction of the Nasdaq 100 and Nasdaq Composite last week.

In addition, the poor jobs figures set off the Sahm Rule which many consider to be a historically reliable indicator of recession.

The Sahm Rule states that if the unemployment rate's three-month moving average is at least 0.5 percentage points higher than its 12-month low, the economy is likely in the early phases of a recession. The unemployment rate has averaged 4.13 per cent over the last three months, surpassing the 3.5 per cent figure that was noted in July 2023 by 0.63 percentage points.

Internet slams Kamala Harris after decline in US stock market

Social media users sided with Michelle Price's remarks concerning Harris and the decline in the US stock market. One X user tweeted, "Her voting base doesn't have stock and don't even know what the stock market is." Another wrote, "Her policies are the same as Joe. Her hype was never about policies. The hype doesn't care about the markets."

"It's because of her stupidity and lying about what she has been responsible for," remarked one user while someone else wrote, "Kamala will have to actually say what she is going to do to boost the economy rather than hide from open press conferences."

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.