Donald Trump has staked his entire reelection campaign on taking credit for Wall Street and the economy, but Trump now has the 8 biggest Dow drops in US history.
Here is Trump’s record:
Top 8 Largest Dow Jones Drops in American History.
1) Trump: -1,191 2/27/20
2) Trump: -1,175 2/5/18
3) Trump: -1,032 2/8/18
4) Trump: -1,031 2/24/20
5) Trump: -879 2/25/20
6) Trump: -831 10/10/18
7) Trump: -800 8/14/19
8) Trump: -799 12/4/18
— YS (@NYinLA2121) February 27, 2020
Trump’s numbers by percentage are not the largest. The three largest by percentage occurred during the financial crisis under George W. Bush, but in terms of points the top 8 biggest daily drops belong to Donald Trump.
The Dow is a reflection of the instability of Trump. The Dow has seen wild highs land lows that were early in Trump’s term largely based on the rhetoric of the president. The coronavirus plummet is different in that it has proven to be an issue that can’t be glossed over or explained away with Trump’s happy talk.
The bubble is going to eventually burst on the current stock market. Trump has managed to inflate the stock market with speculation and opinions often on Twitter. The coronavirus is a governing crisis. Trump can’t say everything is fine, name Mike Pence to run the US coronavirus response, and expect the stock market to go up.
Trump is enraged over the market’s decline because he thinks that the American people believe that Wall Street is the US economy. While Trump obsesses over the market, he is ignoring the bigger threat to the US economy that a coronavirus outbreak represents.
Trump’s record on the Dow is starting to have more in common with Herbert Hoover than Barack Obama.
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Mr. Easley is the founder/managing editor and Senior White House and Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association