Wall Street's Wild Ride - Trump Pumps Discouragement Over Volatility
- Stock Market Turmoil - Trump Delivers Messages of Resilience
The Dow Jones took a nasty dive by 3.6%, plummeting to 36,947.62 points at market opening, followed by the S&P500 losing 3.5%, and the technology index Nasdaq plummeting by 3.7%. However, the scene turned positive approximately an hour into trading, with the Dow Jones soaring by 0.92%, the S&P500 by a robust 1.5%, and the Nasdaq skyrocketing by a staggering 2.31%.
Trump had earlier penned down a spirited message on his online platform, Truth Social, declaring the USA stood strong under his guidance as it should have years ago. "Don't be soft! Don't be a muppet! Don't be a scatterbrain", he barked at the Americans, urging them to face the storm head-on. With grit, guts, and patience, everything will be all right, according to the ex-president.
- Wall Street's Wild Dance
- Donald Trump
- Stock Market Swings
- Dow Jones Index
- Nasdaq
- Trade Policy
- Brash Message
- 45th US President
- Big Apple
During the Stock Market calamity, Trump posted on Truth Social at 9:37 a.m., urging investors to "buy" stocks, stating, "THIS IS A GREAT TIME TO BUY!!! DJT." This message came hours before he announced a 90-day hold on nearly all tariffs, which had been causing market apprehension.
As the markets reeled from the whiplash, the S&P 500 dropped below 5,000 for the first time since the previous year's April, raising questions about market instability. The US-China trade war had escalated with tariffs on Chinese goods increasing by 104%, adding turmoil to global markets.
Following Trump's tariff pause announcement, the stock market saw a massive rebound. The S&P 500 closed up 9.5%, recuperating around $4 trillion of the losses suffered over the previous four trading days. This surge suggested that Trump's actions had an immediate, positive impact on market sentiment. His exuberant post on Truth Social boosted Trump Media and Technology Group, the parent company of Truth Social, by 22.67%.
Trump's actions, however, raised eyebrows about market manipulation and potential insider trading, as his advice preceded the tariff pause by a few hours. Critics argued that such influence could damage public trust in the markets. Nonetheless, it remains questionable if Trump had prior, definitive knowledge of the tariff decision when he made his post.
- Wall Street's turbulent dance continued, with the Dow Jones Index and Nasdaq seeing significant swings due to unpredictable factors, such as the 45th US President's messages on trade policy.
- Amidst the market volatility, Donald Trump urged investors to buy stocks through his platform, Truth Social, offering a brash and encouraging message to face the economic storm.
- Trump's seemingly timely announcement of a tariff pause led to a surge in the stock market, with the S&P 500 rebounding and recovering around $4 trillion of losses, but lingering questions about potential market manipulation remain unsettled.
