President Trump loves to talk about the stock market — when it's doing well
When the market goes down, the talkative president grows silent on the topic.
President Donald Trump is quick to take credit when the stock market is up. But when the market goes down, the usually talkative president grows silent on the topic.
In keeping with what is a trend, the president has not commented on the stock market since Tuesday's nosedive. The stock market was down nearly 800 points at the end of the day Tuesday, and markets were closed on Wednesday as the nation observed a day of mourning in honor of President George H.W. Bush.
By early afternoon Thursday, the Dow had recovered somewhat following a rough start to the day and was down 436 points.
When the president has been eager to talk about the stock market over the last two years, it's usually been to frame gains on Wall Street as the successful results of his economic policies.
"The stock market is at an all-time high. The economy is booming, wages are rising, and more Americans are working today than ever before. Ever before," Trump told supporters at a campaign rally in Tennessee on Oct. 1.
Trump has frequently used the stock market as an indication of his success as president both at home and abroad.
“The stock market's way up. When I came into office the stock market was from a different planet, it's way up,” the president boasted on March 23.
He even went so far, on one occasion, to make the claim that the strong performance of the U.S. economy has contributed to Switzerland’s wealth.
“You have a lot of our stock in the United States, so I have helped to make Switzerland even richer, and I'm very happy about that,” he said in Davos on Jan. 26.
In addition to his many statements at both official and campaign events, Trump has tweeted extensively on the topic during the first two years of his presidency.
"The Stock Market just reached an All-Time High during my Administration for the 102nd Time, a presidential record, by far, for less than two years. So much potential as Trade and Military Deals are completed," he tweeted on Oct. 3.
"Longest bull run in the history of the stock market, congratulations America!" he boasted on Aug. 22.
"Business is looking better than ever with business enthusiasm at record levels. Stock Market at an all-time high. That doesn't just happen!" he tweeted earlier that month.
Indeed, it's a rare event that the president will tweet anything other than positive news regarding the stock market. One exception was a tweet he fired off as a warning to Democrats soon after they retook the House in the midterm elections.
"The prospect of Presidential Harassment by the Dems is causing the Stock Market big headaches!" Trump wrote, appearing to reference Democrats' support for the ongoing special counsel's investigation into his campaign.
He also repeatedly made the argument from the campaign stump this fall that a Democratic victory in the midterms would result in economic hardship.
"If Democrats take over Congress, the stock market will plummet. They will -- it will plummet. You know, there's a reason for it. Every day we hit new highs, new highs. I think we had 103 new highs. Think of it. All time. That means jobs. To a lot of people, it means great 401(k)s. It means great -- but to a lot of people, it means jobs. It's jobs," the president said at a rally in Rochester, Minnesota on Oct. 4.
But while the president has sought to shift blame to the opposing party, the new Democratically-controlled Congress does not begin until January.
On Tuesday, it was the president who sent jitters through stock market by expressing his doubts about the ongoing negotiations with China. He also declared that, should things not go as planned, he is “a Tariff Man.”
"The negotiations with China have already started. Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina," Trump tweeted.
"Bob Lighthizer will be working closely with Steve Mnuchin, Larry Kudlow, Wilbur Ross and Peter Navarro on seeing whether or not a REAL deal with China is actually possible. If it is, we will get it done. China is supposed to start buying Agricultural product and more immediately. President Xi and I want this deal to happen, and it probably will. But if not remember I am a Tariff Man," he added. "When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN."
Those tweets contributed to the sense of uncertainty among investors that was ultimately reflected in Tuesday's nosedive.
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