On Monday afternoon, investors on edge due to the market downturn were met with silence if they turned to websites like The New York Post, The Daily Caller, One America News, or The Blaze. These right-leaning news outlets did not cover the stock market downturn as Wall Street closed with its deepest plunge of the year.
Fox Business Network, promising to bring “content focused on investing, optimism, and the American dream,” prioritized news of temporary outages on Elon Musk’s social media platform, X, over the market’s nosedive.
In a week where President Trump’s erratic tariff policies shook investor confidence, his staunch media allies and Capitol Hill supporters largely avoided discussing the situation—if they mentioned it at all, it was to spin it as potentially beneficial.
Fox Business host and former Trump advisor Larry Kudlow, filming in the iconic Indian Treaty Room across from the White House on Monday, downplayed recession fears. “Profits are still up. I honestly don’t see a recession,” he claimed while urging people to “stay calm and focus on a well-conceived economic plan to make America great again.”
During Trump’s first term, he often mentioned the stock market as a reflection of his policy success. Lately, however, he’s more reluctant to downplay fears of a recession, describing the period as “transitional” on Fox Business with Maria Bartiromo. He suggested America take a page from China’s long-term economic playbook and not get hung up on Wall Street’s short-term fluctuations.
This new outlook quickly resonated with some influencers. Jack Posobiec, fresh from a European trip with Defense Secretary Pete Hegseth, dismissed concerns on a podcast, telling listeners to calm their financial nerves. Right-wing activist Chaya Raichik, on her Libs of TikTok account, praised Trump’s economic stance, neglecting any mention of the market’s decline.
Lawmakers chimed in, too. Alabama Republican Senator Tommy Tuberville mentioned that a market correction might have been due. “The stock market was probably inflated,” he told Kudlow on Fox Business post-market closure. “President Trump shouldn’t be concerned.”
These comments contrasted sharply with Tuberville’s past views on similar financial swings. Last August, following a one-day dip, he criticized President Biden and Vice President Harris’s economic strategies, calling for “steady leadership.”
While some conservative voices expressed concern, like Fox News anchor John Roberts noting the stock market’s dip since Trump took office, generally, the right-wing media’s indifference to the market situation reflects their absorption of the administration’s agenda, despite potential personal financial implications.
Rob Schmitt of Newsmax attributed the market downturn to Trump’s boldness in challenging globalization. “This is the consequence of genuine change,” Schmitt posted on X. Meanwhile, Fox News’s Will Cain likened the economy to a recovering addict, stating that a withdrawal from government spending, though painful, is necessary for a return to economic health.
Support for Tesla surged despite its market decline, with over $750 billion in valuation lost since mid-December and a 15% drop on Monday alone. “Elon Musk is under fire for challenging governmental inefficiencies,” declared Fox News host Sean Hannity, vowing to buy a luxury Model S in support, bypassing discussions of Tesla’s sales struggles abroad and in California.
Following on Tuesday, Trump pledged to purchase a Tesla as a sign of confidence in Musk, hosting a press event outside the White House with Tesla vehicles, personally choosing a red Model S.
Not all on the right were so dismissive about the market’s situation. Stephen Moore, Trump’s former economic advisor, called the tariffs “misguided” over the weekend and voiced recession concerns. Kentucky Senator Rand Paul warned against ignoring the market downturn, stressing, “Market indexes reflect public sentiment. Tariff-induced declines signal warnings we should heed.”
Despite these dissenting voices, the narrative minimizing the market concern prevailed. “Reading headlines might make one believe the economy is on a downward spiral,” remarked Fox Business host Dagen McDowell on Monday, dismissing recession talk as “fear mongering.” Conservative commentator Ben Shapiro underscored the political ramifications on Tuesday, stating, “If Trump is blamed for an economic slump, it could be catastrophic. In today’s world, perceptions carry immense weight.”
