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Bubba Wallace, driver of the #43 World Wide Technology Chevrolet, walks the grid prior to the NASCAR Cup Series Big Machine Hand Sanitizer 400 Powered by Big Machine Records at Indianapolis Motor Speedway on July 05, 2020 in Indianapolis, Indiana.

Chris Graythen | Getty Images

President Donald Trump on Monday lashed out at the NASCAR Cup series’ only Black driver and criticized the auto-racing league’s decision to ban the Confederate flag from its events and properties.

Trump asked in a tweet if the driver, 26-year-old Bubba Wallace, has “apologized to all of those great NASCAR drivers & officials who came to his aid, stood by his side, & were willing to sacrifice everything for him, only to find out that the whole thing was just another HOAX?”

Trump was referring to findings that a noose found in Wallace’s garage was a pull rope and not meant to intimidate the driver. It was not ruled a hoax, as the president claims.

“That & Flag decision has caused lowest ratings EVER!” the president added in a reference to NASCAR’s move last month to prohibit displaying the Confederate battle flag from all events and properties.

The flag has been commonly displayed at NASCAR

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This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here.

Good morning, Bull Sheeters. It’s a risk-on Monday with Asia, Europe and U.S. futures all soaring. China is very bullish on its second-half recovery, and in the capital markets—for investors, that’s enough to drown out weak data elsewhere, plus bearish forecasts and new global records in coronavirus cases.

Let’s see where investors are putting their money.

Markets update

Asia

  • The major Asia indexes are soaring in afternoon trade, with Shanghai up more than 5% .
  • Investors in mainland China and Hong Kong are seeing their best day in over a year as the influential state-run China Securities Journal turned bullish on “the wealth effect of the capital markets.” That enthusiasm is lifting global markets.
  • Alas, the coronavirus crisis is worsening, as the WHO this weekend reported a new record daily tally (212,000) led by Brazil, India and the United States.

Europe

  • The European bourses jumped out of the gates, with the benchmark Stoxx Europe 600 up 1.7%.
  • The U.K. is now expected to phase Huawei out of its 5G buildout plans as