What would be the proper action to calm the markets?
First of all stop lying.
Second solve the testing problem.
Third, stop talking about bailing out big business and address the real needs for most Americans faced with possible financial destruction from not working. A payroll tax cut won't help anyone who isn't working. All it will do is put more money in the hands of those who don't need it and remove needed revenues. Why do conservatives believe that the solution to everything is tax cuts? It's not. Especially not for the rich.
Fourth, get insurance companies to pay for more than just the testing. Get the insurance companies to pay for treatment of the virus. Some are going to end up in the hospital. That's expensive.
Fifth work on making sure there's enough beds, respirators and all necessary medical equipment and facilities available.
Sixth, do something about the homeless population. If it gets in the homeless population it will get much, much worse since they don't have a place to go to quarantine themselves.
Seventh, pass paid sick leave. Those who can't go to work because of the virus can be financially destroyed. They can lose their homes because they can't pay rent. They will go to work because they can't lose their homes which will spread the virus more.
That's just some of the things he can do but has not done.
Trading has restarted again. It didn't do anything to stop the bleeding. The dow is down over 1900 points.
The dow was around 20 thousand when trump took office. Which means just about all the gains from the trump years are gone.