Following a steep drop in stock markets globally, particularly in Asia and Europe, Donald Trump chastised Joe Biden and Kamala Harris.
Following a significant drop in financial markets globally, particularly in Asia and Europe, US President Joe Biden and Vice President Kamala Harris came under fire from Donald Trump.
US stock markets saw a steep decline on Friday following the release of employment data that was worse than predicted, which heightened fears that the economy could start contracting earlier than projected. The Federal Reserve could decide to start lowering interest rates as a result of this.
With S&P 500 stock futures down more than 2 percent and Nasdaq stock futures down more than 4 percent on Friday, the sell-off was becoming more severe.
The Nikkei 225 and Topix indices in Japan fell 12.4% and 12.2%, respectively.
Trump tweeted on Truth Social on Sunday, accusing his Democratic opponents: “STOCK MARKETS CRASHING.” I ADJUSTED YOU TOO! KAMALA IS ALMOST AWOL. BIDEN IS ASLEEP AND SOUND. ALL DUE TO INVESTABLE US LEADERSHIP!
In a different Monday tweet, Trump cited Cantor Fitzgerald CEO Howard Lutnick, who accused Harris of being to blame for the state of the global markets at the moment and asserted that “none of this happens if Trump is in”.
India is down 6%, Japan is down 12%. Germany is likewise far down. The United States is terrible. This is a sneak peek at global markets in the event that Donald J. Trump leaves the White House. According to Trump, Lutnick said, “If Trump is in, none of this happens.”
“Kamala and the markets are incompatible.” She is going to ruin the markets. Now that she is in charge, observe what is taking place. The GOP presidential contender closed his message with, “One week of the fake media saying better polls and you get a market crash—The Legendary Howard Lutnick!”
Since the beginning of 2023, stock markets have generally been climbing due to strong economic data, as employment levels have continuously exceeded predictions despite the Federal Reserve’s goal to slow the economy through interest rate increases.
In the meanwhile, US economists have begun to criticize Jerome Powell, the chairman of the Federal Reserve, for his slowness in responding to the push to lower interest rates, especially when inflation statistics began to stabilize earlier this year.
( @realDonaldTrump – Truth Social Post )
— Donald J. Trump 🇺🇸 TRUTH POSTS (@TruthTrumpPosts) August 5, 2024
( Donald J. Trump – Aug 05, 2024, 8:27 AM ET )
“Japan down 12%, India down 6%. Germany way down also. U.S. really bad. This is a preview of the world markets without Donald J. Trump in the White House. None of this happens if Trump is in.… pic.twitter.com/PqXAiNkWEg
STOCK MARKETS CRASHING. I TOLD YOU SO!!! KAMALA DOESN’T HAVE A CLUE. BIDEN IS SOUND ASLEEP. ALL CAUSED BY INEPT U.S. LEADERSHIP!
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) August 5, 2024
Donald Trump Truth Social 11:07 PM EST 08/04/24 @realDonaldTrump
Trump mocked for taking credit for record stock market
Trump’s remark coincides with his ongoing attempts to claim ownership of the record-breaking stock market gains accomplished under President Biden.
Earlier, he claimed that the market was performing well “because they think I’m going to be elected”. He continued by saying that investor interest was rising since he was looking excellent versus Biden according to most surveys.
Biden’s staff responded to Trump’s statements by making fun of him for “desperately” trying to claim credit.
Left: Trump in 2020 claiming the stock market will collapse if President Biden wins
— Kamala HQ (@KamalaHQ) January 29, 2024
Right: Trump today desperately trying to take credit for the stock market hitting record highs under President Biden pic.twitter.com/LERIoDDh0L
Now THIS is gaslighting. Trump takes credit for the record high stock market because his polls “are so good”. He thinks the voters are idiots. pic.twitter.com/JH1taHg9AQ
— Mike Sington (@MikeSington) January 29, 2024
