Republican presidential nominee Donald Trump reacts as reporters yell questions to him after he stated that he believes U.S. President Barack Obama was born in the United States at a campaign event at the Trump International Hotel in Washington, D.C., U.S., September 16, 2016. REUTERS/Mike Segar TPX IMAGES OF THE DAY
Last updated on September 10th, 2020 at 07:09 pm
Donald Trump has staked his entire reelection campaign on taking credit for Wall Street and the economy, but Trump now has the 8 biggest Dow drops in US history.
Here is Trump’s record:
Trump’s numbers by percentage are not the largest. The three largest by percentage occurred during the financial crisis under George W. Bush, but in terms of points the top 8 biggest daily drops belong to Donald Trump.
The Dow is a reflection of the instability of Trump. The Dow has seen wild highs land lows that were early in Trump’s term largely based on the rhetoric of the president. The coronavirus plummet is different in that it has proven to be an issue that can’t be glossed over or explained away with Trump’s happy talk.
The bubble is going to eventually burst on the current stock market. Trump has managed to inflate the stock market with speculation and opinions often on Twitter. The coronavirus is a governing crisis. Trump can’t say everything is fine, name Mike Pence to run the US coronavirus response, and expect the stock market to go up.
Trump is enraged over the market’s decline because he thinks that the American people believe that Wall Street is the US economy. While Trump obsesses over the market, he is ignoring the bigger threat to the US economy that a coronavirus outbreak represents.
Trump’s record on the Dow is starting to have more in common with Herbert Hoover than Barack Obama.
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