Trump says US took ‘giant step back in history’ after Democrats’ midterm victory
Former President Donald Trump attributed a $3 trillion stock market decline to the Democratic party's success in midterm elections. He criticized the results while expressing confidence that his party would recover and return stronger.
Why it matters
Highlights the intersection of political election outcomes and market volatility as perceived by a major political figure.
US president Donald Trump has blamed the Democrats’ sweeping victory in the midterm elections for a $3 trillion wipeout in stock market value, saying America had “taken a giant step back in history” but promising that his party would return “bigger and stronger than ever before”.In a post on Truth Social, Trump said the market had suffered a one-day loss of $3 trillion despite having performed like a “rocketship” under his presidency.“America took a giant step back in History with the results of the last Election — Even the Stock Market, which has been a ‘ROCKETSHIP’ under ‘TRUMP,’ took a one day, 3 Trillion Dollar loss,” he wrote, before adding: “But have no fear, we will be back, BIGGER AND STRONGER THAN EVER BEFORE!”It was not the first time Trump had attributed the market decline to the Democratic victory.
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