Seriously? CNBC Puts Crazy Spin on Story Moments After Stock Market Nosedive
20th July 2021
The Dow Jones Industrial Average fell a whopping 725.81 points July 19 as “anxiety mounted over the spread of the Delta coronavirus variant and its potential impact on the global economy,” The Wall Street Journal reported. It was the “worst session since October” for the index.
But CNBC seemed to already know how it would spin the story at 10:42 a.m. when the market was in the heat of its nosedive: “Stock market volatility can be an opportunity for investors. Here’s why.”
CNBC pulled the nothing-to-see-here angle from its back pocket and pontificated how “[w]hile volatility can be troubling for investors, experts caution against any hasty selling when markets fall.” Really?
The outlet ran two subheadings in its piece that were just as absurd given the extent of the market collapse. The first was “Volatility is common.” The second was “Volatility can be your friend.”