Democratic 2020 U.S. presidential nominee Joe Biden points to the crowd after speaking at his election rally, after the news media announced that Biden has won the 2020 U.S. presidential election over President Donald Trump, in Wilmington, Delaware, U.S., November 7, 2020. REUTERS/Jim Bourg
Last updated on July 18th, 2023 at 12:23 pm
Trump promised that the stock market would crash if Biden won. Instead, the Dow has had its best month since 1987.
CNN reported:
Between August and October alone, Trump sent six tweets saying markets would “crash” if Joe Biden were elected, using a word presidents typically avoid.
“The Dow Jones Industrial just closed above 29,000! You are so lucky to have me as your President,” Trump wrote on September 2. “With Joe Hiden’ it would crash.”
….
The S&P 500 notched its best election week rally since 1932. And despite a sharp pullback Monday, the Dow soared nearly 12% in November, its best month since January 1987. The S&P 500 and Nasdaq enjoyed their best month since April.
Investors hate uncertainty and instability, and that is what Trump has offered for the past four years. The market has gone up in spite of Trump not because of him, but because of the soon to be ex-president’s endless need to take credit for anything that is successful, he slapped his name on the stock market like it was a pallet of frozen Trump steaks and hoped that it would be enough to win him a second term.
It wasn’t.
The stock market was never going to crash if Joe Biden won.
Investors do better under Democratic presidents than Republicans.
We can add the stock market to the ever expanding list of things that Trump knows nothing about.
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