Posted on 08/06/2024 8:49:29 AM PDT by E. Pluribus Unum
Donald J. Trump didn’t wait for the opening bell before blaming Monday’s market sell-off on Vice President Kamala Harris.
“Stock markets are crashing, jobs numbers are terrible, we are heading to World War III, and we have two of the most incompetent ‘leaders’ in history,” the former president and Republican presidential nominee wrote in a post on Truth Social at 8:12 a.m. Eastern time. “This is not good.”
Mr. Trump did not mention that markets had suffered far greater single-day losses when he was president, or that economists blamed a variety of factors — including a disappointing July jobs report, a plunge in Japanese markets earlier in the day and a growing consensus among investors that the Federal Reserve has waited too long to start cutting interest rates — for Monday’s slide.
He also did not mention that earlier this year, he had claimed credit for a surge in stock prices, which he said reflected confidence he would be re-elected.
What Mr. Trump was engaged in was a calculated attempt at political marketing. By 9:45 a.m. on Monday, less than an hour after U.S. markets opened, Mr. Trump branded what would become a 3 percent decline for the day in the S&P 500 the “Kamala Crash.”
By lunchtime, it was official party messaging: The Republican National Committee hyped the “Great Kamala Crash of 2024,” and the Trump campaign had produced and circulated on social media a video tying the vice president to Monday’s dip in the markets. By the afternoon, the Trump forces had turned “KamalaCrash” into a “trending” subject on X.
(Excerpt) Read more at nytimes.com ...
Talk about spin.
A one day fall may or may not be of significance. What triggers it, like the jobs report, etc., is what counts.
Warren Buffett triggered it with his massive sale of Apple stock.
Now those hundreds of billions of dollars of T-Notes he’s sitting on can be used to purchase stocks at bargain prices.
NYT IS A DEMOCRAT LEFT WING RAG,
DONT BUY IT.
Huh ...
An "economic indicator" that is always tied to the current administration, shows a bad result. Mizz Harris is part of the current administration ... in leftist land, she obviously had nothing to do with it.
>Trump and His Allies Seize on Market Downturn to Attack Harris<
Trump and his allies ATTACK? WOW!
NICE SPIN ON WORDS AS USUAL. DEMOCRATS NEVER DO THAT.
Sorry you didn’t get it.
LOL? Oh, I know.
Amazing (disgusting, actually) when folks, here, take the side of the enemedia.
IMO, the Buffet sale was only inherently worth ~500 points. The timing (close to the lousy jobs report and the ME heating up further) likely added more.
What crash? The stock market is always going up and down. If it dropped to where it was at the beginning of the year, then you could call that a crash, but it hasn’t (yet).
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