During a town hall event with Fox News host Bret Baier, former President Donald Trump discussed his views on the stock market, suggesting that its current performance is closely related to its position in the polls for the US presidential election. 2024.
Trump's perspective on the stock market
At a Fox New event, Trump responded to host Baier's question about his recent comment about a possible market crash. While he clarified that he does not expect a decline, he expressed his belief that "the economy is horrible except the stock market is going up."
Trump's boast
He went on to state that the stock market's positive trajectory is primarily attributed to its lead in polls compared to the likely 2024 Democratic nominee, President Joe Biden.
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Trump's statement
He said: โBut I would say this: We have a situation where I think the stock market goes up because I am leading. I think if I wasn't leading, the stock market would be 25% lower. And I think, frankly, if I didn't win, I think the stock market would crash.โ
Trump's influence on the stock market
According to Trump, he sees his leadership as a driving force behind the current strength of the stock market. He said: โI think if I wasn't a leader, the stock market would be 25% lower. And I think, frankly, if I didn't win, I think the stock market would crash.โ
Evaluation of Trump's claims
It's worth noting that Trump's claims about the stock market lack substantial evidence to support them. While he attributes the stock market's performance to his leadership and his position in the polls, these connections are not universally accepted.
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Market surveillance report
A report from December 2023 highlights that, during his presidency, the S&P 500 index would have seen an increase of almost 17 percentage points more under Trump than under Biden. However, the causal relationship between Trump's leadership and stock market performance is subject to debate.
Trump's historical relationship with the stock market
Throughout his presidency, Donald Trump frequently touted the performance of the stock market as a measure of his administration's success. Following his loss to Joe Biden in the 2020 election, Trump held a brief press conference in which he highlighted the Dow Jones Industrial Average's milestone of crossing the 30,000 mark.
Unusual reaction to Trump's statement
Trump's impromptu appearance and focus on the stock market surprised White House reporters, prompting candid comments after he left the briefing room.
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Discussion in progress
Trump's claims about the stock market's dependence on his political fortunes add to the ongoing debate over the relationship between political leadership and economic indicators.
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