Trump Blames Massive Stock Market Selloff On Democrats’ Midterm Success
Major indexes tumbled to one of their worst closes during Trump’s second term following a Democratic “blue wave” in midterm elections.
On Thursday night, President Trump blamed voters for the historic stock market sell-off, saying they had themselves to blame. This comes two days after Republicans suffered a major defeat in the midterm elections. Stocks plummeted on Thursday, with the tech-focused Nasdaq falling more than 5% due to concerns over the future of AI development and the data centers that support it.
Investors were particularly unsettled after the Democratic gains in Tuesday's election, which signaled a shift towards restricting AI. Trump posted a message on Truth Social, stating, "The Stock Market crashed today because the Dumocrats had a big Tuesday — So sad to see, you only have yourselves to blame!" The market had actually experienced a significant rally on Wednesday, but Trump took credit for that surge at the time.
Investors should watch for further declines in pre-market trading and potential losses in Asian markets, indicating a potentially tough Friday ahead.
Written by urgent.news from Axios's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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