Last week, Wall Street suffered its worst percentage drop in two years, with the Dow Jones Industrial average falling 666 points. It was the biggest point fall since December 2008, as the financial crisis hit. The other Wall Street indexes, the S&P 500 and NASDAQ, also saw their worst week in two years. Fears of inflation, coupled with Rethuglican mismanagement of Federal budget negotiations and the looming debt ceiling vote, were cited as contributing to the losses. Perhaps some more astute investors got a whiff of the desperation coming from the White (Supremacist) House over the deepening Russiagate scandal, and are cashing out now before the indictments start flying.
Over the past year, pathological liar and con man Donald "Rump" Trump has been bragging about the stock market surging as a result of his corporate tax giveaway. You know he'll be uncharacteristically quiet this time.
2 comments:
I find it hilarious (no I don't) that Trump takes credit when the market goes up and blabs to everyone what an economic genius he is. Well, he sure wasn't blabbing about the 666 point drop.
donnah - The thrice (at least) bankrupt Trump hasn't a clue as to the national economy, much less the stock market. He should know that there are bull markets and bear markets; you can't have it both ways -- although he'll try.
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