Trump claimed credit for rising stock prices, and now he owns their fall
WASHINGTON ââ Until its recent downturn, the U.S. stock market had been one of President Donald Trump's favorite topics.
He's tweeted more than 60 times since his election about new highs and frequently touted the gains in public comments.
"The stock market is smashing one record after another, and has added more than $7 trillion in new wealth since my election," he boasted last month to corporate and political leaders in Davos, Switzerland.
The fall came this month, with the first 1,000-point drop ever for the Dow Jones industrial average. The Dow and broader Standard & Poor's 500-stock index fell more than 10 percent - what's considered a market correction - before recovering much of those losses in recent days.
Some economists said Trump owns this drop - along with the unwelcome return of market volatility and a possible looming recession - not
