At 1:44 PM EST on March 11th of 2020, Trump tweeted that he would be “addressing the nation” at 9 PM EST that same day. This oval office address was a statement on COVID-19 and what the pandemic meant for America. This research is a rhetorical analysis of Trump’s public address on that day. His speech, already given in a time of uncertainty, led to widespread panic amongst consumers, with U.S. stocks falling the next day by almost 10%, in their worst day since the 1987 crash. News outlets and economists reported that the uncertainty that came along with the pandemic was only worsened because of Trump’s fear stoking and the atmosphere of uncertainty this speech created. What were people reading in the speech that could have pushed them towards this economic behavior? Conducting a rhetorical analysis of the speech through an innovation on the textual-intertextual method, this paper analyzes Trump’s speech and what people and the Trump administration said in response. In the first part of the paper, close textual analysis allows us to have an in-depth, microscopic understanding of the speech itself. In the second part of the thesis, we examine intertextual evidence of the speech’s extrinsic effect. Reading secondary sources that explicitly mention the primary text, including those produced by audiences hailed by the text as well as by Trump and his proxies, we can understand its broader reception especially as it relates to investor behavior and consumer attitudes. This study finds that Trump’s lack of key information, sparse emphasis on international cooperation, and contradictory rhetoric towards public officials all help explain the economic uncertainty that resulted from this speech. Studying the relationship between rhetoric and the economy through this research has implications on presidential rhetoric, unsuccessful early pandemic communication and the factors influencing stock price volatility.