Donald Trump’s failures have driven the Dow to its worst losing streak since 2011, as investors begin to doubt the future of all of Trump’s proposals.
CNBC reported, “U.S. stocks closed mostly lower on Monday as investors reassessed the prospects of key White House proposals, including tax reform, coming to fruition….The Dow Jones industrial average ended about 45 points lower — after falling nearly 200 points earlier, with Goldman Sachs contributing the most losses. The 30-stock index also posted an eight-session losing streak, its longest since 2011.”
Wall Street might be starting to realize that Trump’s words are worthless. His promises mean nothing because he can’t deliver. The stock market has created a bubble for itself based on buying into Trump’s BS, but after he had fallen on his face with healthcare, investors are starting to realize that this president might be a loser who can’t deliver on anything that he promised.
The eight-day Dow slump will be nothing compared to what will happen to stocks if tax reform fails to pass. If Trump doesn’t get tax reform, the stock market will tank. Investors ignored the signs that failure was coming on health care, and they have been ignoring the omens for months that tax reform might be in trouble. Hint: there are big differences between Republicans in the House, and the House and Senate on tax reform. It is not a certainty that a bill ever makes it through Congress.
It was only last month that Trump was bragging about the stock market:
Great optimism for future of U.S. business, AND JOBS, with the DOW having an 11th straight record close. Big tax & regulation cuts coming!
— Donald J. Trump (@realDonaldTrump) February 25, 2017
As his presidency is crashing into a brick wall built with scandal and failure, stocks are starting to realize that the promises Trump made may never happen.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
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