President Trump blamed the Democrats’ blue wave election wins for Thursday’s unprecedented stock market sell-off that saw firms lose trillions of dollars in value in a single day.
“The Stock Market suffered one of the Worst Days in History based on the results of the Election,” Trump fumed on Truth Social.
“Such a sad thing to watch! It took so much work to get us to a level that no one has ever seen before, and then this,” the president continued. “Your 401(k)s have, therefore, dropped.
“Remember, it wasn’t Republicans, it was Dumocrats,” he added, referring to the Democratic Party.
Trump, however, expressed optimism that the market would quickly make up for Thursday’s losses.
“Do not fear, however, we will soon, one way or the other, be BIGGER AND STRONGER THAN EVER BEFORE,” he wrote. “MAKE AMERICA GREAT AGAIN!”
S&P 500 and Nasdaq companies shed a combined $5.4 trillion in market value – single-day records – amid fears of a looming clampdown on artificial intelligence and data centers in the wake of Democrats securing majorities in the House and Senate.
The Dow Jones Industrial Average fell 1,833 points, or 3.44%, while the Nasdaq dropped 5.52% and the S&P 500 dipped 4.36%.
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