Jokingly, Trump blames Dow for diving into Seth Moulton's withdrawal from the 2020 race



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President Trump joked on Twitter that "maybe" the Dow Jones Industrial Average dropped more than 500 points on Friday because Rep. Seth Moulton retired from the race for the Democratic presidency.

"The Dow is down 573 points on the news that Rep. Seth Moulton, no matter what, has dropped out of the 2020 presidential race!" Trump said on Twitter.

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The shares have instead fallen on Wall Street after Trump said he would react to China's latest tariff increase by calling on US companies to consider alternatives to their China operations.

Inventories had fluctuated between gains and losses earlier in the day after China announced plans to retaliate against the latest wave of tariffs imposed by Washington with US $ 75 billion in tariffs. American products.

MOULTON CONCLUDES LONG SHOT WHITE HOUSE OFFER IN THE LAST PROCEEDINGS OF 2020 DEM

Massachusetts congressman Moulton, a US veteran who served three terms in the Iraq war, struggled to gain ground in the Democratic race. He ended his long candidacy in San Francisco at the summer meeting of the Democratic National Committee.

"I'm finishing my presidential campaign," said 40-year-old Moulton on Friday, before leaving the race knowing we had raised issues of vital importance to the American people and our future. "

When a reporter for Bloomberg News Moulton asked for his reaction The Democrat retorted, "I'm glad he thinks I have more influence on Wall Street than him."

Paul Steinhauser of Fox News and the Associated Press contributed to this report.

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