Former President Donald Trump asserted that the Democrats' victories in the midterm elections were the cause of Thursday's substantial stock market decline, which resulted in companies losing trillions of dollars in value.
"The Stock Market suffered one of the Worst Days in History based on the results of the Election," Trump stated on Truth Social. "Such a sad thing to watch! It took so much work to get us to a level that no one has ever seen before, and then this," he added, noting that "Your 401(k)s have, therefore, dropped."
He further emphasized his point by stating, "Remember, it wasn’t Republicans, it was Dumocrats," referring to the Democratic Party.
Despite the day's losses, Trump expressed confidence in a swift market recovery. "Do not fear, however, we will soon, one way or the other, be BIGGER AND STRONGER THAN EVER BEFORE," he wrote, concluding with "MAKE AMERICA GREAT AGAIN!"
Companies listed on the S&P 500 and Nasdaq collectively lost $5.4 trillion in market value, marking single-day records. This downturn occurred amid concerns about potential regulatory actions related to artificial intelligence and data centers, following the Democrats securing majorities in the House and Senate.
The Dow Jones Industrial Average fell by 1,833 points, or 3.44%. The Nasdaq experienced a drop of 5.52%, and the S&P 500 decreased by 4.36%.
