U.S. President Donald Trump reacts during a Coronavirus Task Force news conference in the briefing room of the White House in Washington, D.C., U.S., on Wednesday, March 18, 2020.

Who's signing now?

President Donald Trump last Friday boastfully signed charts showing big gains on major U.S. stock market indexes after he declared a national emergency over the coronavirus pandemic.

The charts then were reportedly sent to some members of Congress and at least one Trump supporter on the Fox Business network.

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On Wednesday, Trump watched those indexes give up anything that was left of those gains, and then some, with the S&P 500 index sinking by more than 8% as of the late afternoon.

The Dow Jones Industrial Average at one point Wednesday had erased all the gains it had accrued since Trump's inauguration in January 2017.

At the end of the day, the DJIA had recovered a bit, but still was down 1,338 points to close at 19,898.92, or just 0.8% higher than the day Trump was sworn in as president. The Dow is now down 30.2% since the beginning of 2020.

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The Trump Slump continued just as JPMorgan Chase issued a report titled "The day the earth stood still," which forecast that real annualized U.S. gross domestic product would plummet to -4.0% for the first quarter of 2020, and then to a jaw-dropping -14.0% in the second quarter as a result of coronavirus economic fallout.

Both bits of very bad news for Trump came less than eight months before the U.S. presidential election. They also came one day after former Vice President Joe Biden had all but sealed up the Democratic nomination and the chance to square off against a president who until now has tied his political fortunes to a soaring stock market and strong economy.