Politics - News Analysis

Trump Hides and Goes Silent As Stock Market Plunges Over 500 Points

U.S. stocks fell sharply Monday amid mounting concerns about the state of the global economy and a likely Federal Reserve rate hike this week.

The Dow Jones industrial average closed 507 points lower Monday, a 2.1 percent loss, while the Nasdaq Composite dropped 2.3 percent.

Monday’s sell-off was a foreboding start to a pivotal week for the battered U.S. stock market, which has dropped steadily throughout the second half of 2018.

And it’s looking like it will be a bad December as well.

Both the Dow Jones Industrial Average and the S&P 500 are on pace for their worst December performance since 1931, when stocks were battered during the Great Depression. The Dow and S&P 500 are down 7.8 percent and 7.6 percent this month, respectively.

December is typically a very positive month for markets. The Dow has only fallen during 25 Decembers going back to 1931.

The S&P 500 averages a 1.6 percent gain for December, making it typically the best month for the market, according to the Stock Trader’s Almanac.

While the S&P 500 began dissemination in 1950, the performance data was backtested through 1928. It’s worth noting that historically, the second half of December tends to see gains.

Donald Trump has been very quiet though regarding the stock market slump, which is odd considering he takes credit whenever it goes up:

Melania Trump even once got in on the action, slamming Obama when the stock market was down 312 points:

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