Trump Claims A Dem President Would Crash The Market, Day After Dow Drops 1,000 Points
President Donald Trump, while speaking during his trip in India, claimed on Tuesday that the stock market would continue to grow over the next few years — but only if he gets re-elected.
A Democratic candidate winning instead would be disastrous, the president claimed. “[I]f I don’t win you’re going to see a crash like you’ve never seen before,” Trump warned, per reporting from Reuters.
The president acknowledged bad numbers for stocks on Monday, pointing out that the drop was due to worries over the coronavirus. He said that such fears shouldn’t last long, and that the U.S. was in good shape, as far as the virus goes.
He also dismissed the importance of the trade wars and how they affected the economy.
“I think it is going to be under control…I think it is going to work out fine,” Trump said specifically about the trade war with China. “We hope so.”
Trump made similar comments on Monday, although at that time he said that the “stock market is starting to look very good to me,” in spite of the huge sell-off that occurred.
During a trip to India, Trump told business leaders stocks will jump higher if he is re-elected, but “if I don’t win you’re going to see a crash like you’ve never seen before.” pic.twitter.com/qSjx80uUdC
— Srbija Evropa (@srbija_eu) February 25, 2020
The president has made similar predictions before. In September last year, on the precipice of an announcement from Speaker of the House Nancy Pelosi regarding an impeachment inquiry, Trump claimed that such an investigation would also crash the markets.
“If they actually did this the markets would crash. Do you think it was luck that got us to the best Stock Market and Economy in our history? It wasn’t,” he said.
As it turned out, in the 86 days from the start of the inquiry to the vote on impeachment, the stock market rose by 5.66 percent. Over a similar time period immediately prior to impeachment, markets only increased by 0.3 percent, per prior reporting from HillReporter.com.