The stock market is making a “big mistake”, Do
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Posted On: 02/07/2018 6:00:26 PM
The stock market is making a “big mistake”, Donald Trump said on Thursday, days after a record-breaking sell-off on the US exchanges.
“In the ‘old days,’ when good news was reported, the Stock Market would go up. Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!” Trump wrote on Twitter in his first public comment on the sell-off.
The Dow Jones industrial average lost 1,175 points on Monday following another sharp fall last Friday. The drop appears to have been triggered by news of stronger than expected growth in wages, which fueled expectations of a higher rise in interest rates from the Federal Reserve.
Commenting on the markets on Tuesday, White House press secretary Sarah Huckabee Sanders said the US economy was “incredibly strong” and “nothing that’s taken place over the last couple of days in our economy that’s fundamentally different than it was two weeks ago”.
Since his election, US – and global – stock markets have hit record highs. Trump has consistently pointed to rising stock markets as proof his economic policies are working.
“In the ‘old days,’ when good news was reported, the Stock Market would go up. Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!” Trump wrote on Twitter in his first public comment on the sell-off.
The Dow Jones industrial average lost 1,175 points on Monday following another sharp fall last Friday. The drop appears to have been triggered by news of stronger than expected growth in wages, which fueled expectations of a higher rise in interest rates from the Federal Reserve.
Commenting on the markets on Tuesday, White House press secretary Sarah Huckabee Sanders said the US economy was “incredibly strong” and “nothing that’s taken place over the last couple of days in our economy that’s fundamentally different than it was two weeks ago”.
Since his election, US – and global – stock markets have hit record highs. Trump has consistently pointed to rising stock markets as proof his economic policies are working.
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