Trump Takes Credit For Stock Market High, Gets Dragged Down On Twitter
President Donald Trump, who repeatedly warned that the stock market would plummet if he lost the election, took credit on Tuesday as the Dow Jones Industrial Average surpassed the 30,000 mark for the first time.
Stocks climbed for the second day in a row. On Monday, Trump had announced that his administration would cooperate with President-elect Joe Biden’s transition team, after blocking them for more than two weeks. Biden also began announcing his Cabinet picks. The Wall Street Journal reported that the winding up of election uncertainty, coupled with promising potential coronavirus vaccines, appeared to boost investor confidence in an economic recovery.
In a one-minute White House press conference Tuesday, Trump praised his administration for getting to the “sacred” 30,000 number, citing the vaccine progress, but did not mention that the presidential transition was in motion.
Two of his children, Ivanka and Eric Trump, celebrated the stock market high on Twitter. But other users of the platform were baffled by the president’s readiness to pat himself on the back.
Critics quickly threw back to the final presidential debate in October, when Trump predicted without evidence that if Biden were elected, “the stock market will crash.”
Trump said if Joe Biden is elected “the stock market will crash”.
The DOW went over 30K today - for the first time in history - as the Biden transition is officially underway... pic.twitter.com/Cp2hXoxK9M— Rex Chapman (@RexChapman) November 24, 2020
Remember when @realDonaldTrump warned during the campaign that your 401k's and stocks would "disintegrate and disappear" if @JoeBiden won? Well, the Dow Jones industrial average just reached a record high of 30,000 points. And it's 3 weeks since Election Day.
— Wolf Blitzer (@wolfblitzer) November 24, 2020
Others nodded to 2016, when Trump and multiple commentators attributed any market gains post-Election Day to his victory.
Trump has repeatedly insisted that...