Stuart Varney Blames DOW Plummet on ‘Computers’ Reading Trump’s ‘Tariff Man’ Tweet: ‘Humans Should Get a Grip’

Fox Business host Stuart Varney blamed the recent 800 point plummet of the DOW Jones on “computers,” saying on Fox & Friends this morning that “humans should get a grip” and not let digital algorithms dictate trading.

“In my opinion, computers, computer driven trading, algorithms played a very large part in yesterday’s drop,” Varney said this morning, after regular trading on Wall Street was paused today to honor the late George H. W. Bush.

He continued:

“Let me explain: First thing in the morning we heard interest rates had came way, way down, a sharp drop in interest rates. Some people think that is signal for recession. You get that headline, recession, the algorithms read it, then sell. Then came a flurry of tweets where President Trump used the word ‘Tariff man.’ The computers, algorithms read that expression — sell.”

Varney went on to call the possibility of recession “absolutely nonsense” and slammed those who describe Trump’s “tariff man” slams against China as a “hard-line policy,” saying the president is just using that rhetoric as “a negotiating position.”

“Human beings on Wall Street should get a grip,” he added. “I’m tired of being whipsawed like this of mathematicians who create an algorithm that tells you to sell when they read the words recession.”

Co-host Steve Doocy replied by calling Wall Street “one great big computer.”

“It is. I don’t know how you stop this,” Varney concluded. “Humans should get a grip, get back in control of what is going on. Any rational human being would tell you there is really no sign after recession on the horizon. It is not there.”

The DOW dropped hundreds of points yesterday after markets reacted to Trump’s trade talks with China at the G20 summit, which the president claims led to a ceasefire. The markets have since somewhat recovered.

Watch above, via Fox News.

[image via screengrab]

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