Former President Trump on Sunday night appeared to gloat in response to the global market sell-off and suggested his Democratic rivals were to blame.
“STOCK MARKETS CRASHING. I TOLD YOU SO!!! KAMALA DOESN’T HAVE A CLUE. BIDEN IS SOUND ASLEEP. ALL CAUSED BY INEPT U.S. LEADERSHIP!” Trump wrote on his Truth Social platform late Sunday night.
U.S. stock markets plunged Friday following a weaker-than-expected jobs report that raised fears the economy could be slowing down faster than analysts had predicted. By Monday, the sell-off was intensifying, with stock futures for the S&P 500 down more than 2 percent and down more than 4 percent for Nasdaq.
Markets around the world declined, especially across Asia and Europe. In Japan, the Nikkei 225 index fell 12.4 percent, and the Topix index fell 12.2 percent.
Stock markets have generally been climbing since the beginning of 2023 on a foundation of strong economic data, as employment levels have continually surpassed expectations in the face of the Federal Reserve interest rate hikes meant to slow the economy.
Monday morning the Dow has dropped by more than 1000 points, that’s about 2.7%. The Nasdaq plummeted by 6.3% shortly after opening.
And the S&P 500 fell 4.1%.
Read more at TheHill.com
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