For three years, US President Donald Trump has touted a stunning run-up in the sharemarket as evidence of his success in the White House. In the space of three weeks, most of those gains have evaporated.
As the coronavirus pandemic spreads fear of a recession, the sharemarket's rise under the Republican president since he was first elected is now less than half of the gain of his predecessor and rival Barack Obama during the same amount of time.At its peak on February 19, the S&P 500 was up 58 per cent from when Trump unexpectedly beat Democratic rival Hillary Clinton in November 2016. As of Thursday, Trump's sharemarket was up just 20 per cent.
Trump, who has repeatedly boasted on Twitter and to reporters of the sharemarket's performance in recent years, on Thursday played down the carnage wrecking Wall Street."We have a lot of things that we're working on with the financial markets, and it's going to work out fine," Trump told reporters. "You have to remember the sharemarket, as an example, is still much higher than when I got here. And it's taken a big hit, but it's going to all bounce back, and it's going to bounce back very big at the right time."
Really!
Funny how situations like this show the true colors of the deluded left. They like seeing the free world brought to its knees just so they can criticize the politicians of the opposite side. Pathetic lefty cucks
Trump are you using the force...'its going to work out fine' Seriously needs a labotomy...
Trump and the fed have destroyed the market with their hubris.
Wall Street:
You might due and you might die and you probably will die, but I'll be fine Where is this guy's head?
Can we sue China for our super losses? What about take all the foreign owned property and assets back from them? It's not really fair we have to put up with this because they can't eat properly.
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