Blaming the recent Wall Street decline on the White House, Trump attributed the drop to instability in the Japanese economy and a weakening U.S. job market. Earlier in the year, he had credited stock market gains to speculation about his potential return to the presidency.
Neil Cavuto expressed astonishment at the way market fluctuations are linked to Trump. “When the market rises, it’s attributed to him and his anticipated return,” Cavuto remarked. “When it falls, it’s blamed on the Democrats and their supposed failures.”
Neil Cavuto Highlights Inconsistency in Attributing Market Fluctuations to Trump, Both Positively and Negatively
He added, “Some of the largest market declines, including three of the top ten, happened during Trump’s presidency. While many of these occurred during the COVID years, the inconsistency in attributing market movements to presidential influence is perplexing.”
On Monday, the Dow Jones Industrial Average plummeted approximately 1,100 points, marking the worst day for U.S. markets since 2022.
Republicans have labeled this downturn the “Kamala Crash.”
In a post on his social media platform, Truth Social, Trump commented, “Of course there is a massive market downturn. Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic who DESTROYED San Francisco and California. Next, expect THE GREAT DEPRESSION OF 2024! Markets don’t tolerate these games. KAMALA CRASH!!!”
Trump had previously expressed hope for an economic downturn within the year before a potential return to office, aiming to avoid the fate of former President Hoover, who presided over the Great Depression’s onset.
Ammar Moussa, spokesperson for the Harris campaign, countered Trump’s claims. “Middle-class families need consistent economic management, not erratic and false accusations,” Moussa said. “Trump’s presidency had the worst jobs record in modern history and led to major market turmoil while benefiting wealthy friends and outsourcing jobs. Experts agree: His proposals would increase costs for working families by $2,500 annually and fuel inflation.”
Meanwhile, the Japanese Nikkei market surged about 10 percent on Tuesday, recovering nearly all of Monday’s losses, though it remains uncertain if American markets will follow suit.
