WASHINGTON (CBS) – President Donald Trump appeared to make a joke about the stock market’s plunge on Friday by referencing the end of Massachusetts Congressman Seth Moulton’s campaign for the White House.

“The Dow is down 573 points perhaps on the news that Representative Seth Moulton, whoever that may be, has dropped out of the 2020 Presidential Race!” Trump tweeted.

Moulton said he was dropping out on Friday after failing to qualify for any of the Democratic primary debates.

The Marine veteran reacted to Trump’s tweet by saying “I’m glad he thinks I have more influence on the Dow than he does,” according to a Washington Post reporter.

CBS News reports that stocks slumped earlier in the day after China announced retaliatory tariffs on $75 billion of U.S. goods, setting off Trump on a Twitter rant. In one tweet he ordered American companies to “start looking for an alternative to China.”

Seth Moulton reacting to Trump’s tweet: “I’m glad he thinks I have more influence on the Dow than he does.”

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