"Trump Crashes Stock Market"
That's the headline that newspapers and media outlets will be running this weekend if today's declines hold into the close. Since Trump's Rose Garden "Liberation Day" presentation two days ago that included completely false tariff percentage numbers, the US stock market has lost more than 10%. We can't recall a time in history that a President has been directly responsible for a two-day drop like this. And since Trump's Inauguration back in January, he's now overseen the destruction of $10 trillion in US stock market cap (using the Russell 3,000 as a gauge).
If the Dow's 1,800-point drop today holds, it will be the first time ever that it has seen back-to-back drops of more than 1,500 points. The Nasdaq Composite is now down 19% year-to-date for its 2nd worst start to a year (through 64 trading days) in its history (behind only 2001). The Nasdaq is currently on pace to decline 5%+ on back-to-back days for just the 4th time ever. The three others occurred in October 1987, March 2001, and November 2008.
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