Home / Cryptocurrency / For Dow Jones Sell-Off, Donald Trump Blames Democrat House Takeover

For Dow Jones Sell-Off, Donald Trump Blames Democrat House Takeover

The Democratic House presents Trump with a new foil, one that he has already begun to make use of, blaming them for the stock market “glitch” that has seen that Dow Jones Industrial Average and other indices post their worst performances since 2008.

With the Democrats assuming control of the US House of Representatives this week, it seems unlikely that the now-divided federal government will accomplish much of note during the final two years of President Donald Trump’s first term.

The US stock market has endured a sharp decline, seemingly bringing an end to the decade-long bull run that set in following the 2008 financial crisis.

People reply back of Trump’s Tweet, most analysts attribute the decline to other economic factors, including the increasingly-controversial trade war with China.

He stated on  Friday morning that “as I have stated many times, if the Democrats take over the House or Senate, there will be disruption to the Financial Market.” 

“We won the Senate, they won the House. Things will settle down. They only want to impeach me because they know they can’t win in 2020, too much success!”

Trump had set his sights on the Federal Reserve, blaming the independently-run central bank and its chairman, Jerome Powell, for roughing up the market by raising interest rates.



From another Trump tweet, this one published on Dec. 18:

I hope the people over at the Fed will read today’s Wall Street Journal Editorial before they make yet another mistake. Also, don’t let the market become any more liquid than it already is. Stop with the 50 B’s. Feel the market, don’t just go by meaningless numbers. Good luck!

One tweet is probably not enough to predict a permanent shift in strategy on Trump’s part, but it could signal a thawing of the president’s icy relationship with Powell and the Fed.

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