Market Turmoil: Trump Cites $3 Trillion Loss After Midterms
The President claimed the stock market suffered its worst single-day drop since April following the election results, though indices partially recovered on Friday.
By Ricardo Alvarez ·
President Donald Trump stated on Sunday that the U.S. stock market lost three trillion dollars in a single day. He identified this financial decline as proof that the nation moved backward following the midterm elections.
The market drop occurred on Thursday. It marked the worst one-day performance for the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average since April of last year. CNBC reported that concerns regarding data center construction drove the selling pressure. This followed the blue wave observed in the recent midterm votes.
On Friday, the market showed signs of recovery. The Nasdaq rebounded by 1 percent. The S&P 500 also rose, though by a margin of less than 1 percent. In contrast, the Dow Jones Industrial Average ended the session down 0.46 percent, according to data from CNBC.
The President referenced the market’s previous trajectory in a post on Truth Social. He described the stock market as a rocketship during his administration. He asserted that the recent losses were temporary and promised a return to strength.
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