‘The Trump Slump’: New Bloomberg Businessweek Cover Laments End of Booming Market

Shortly after Donald Trump dismissed the dreadful December in the stock market as a “glitch”, Bloomberg Businessweek unveiled the cover of its latest issue, which casts the market plunges as an apt reflection of his “volatile” presidency.

The magazine’s new cover shows Trump stepping on his own… tie, while promising to assess why markets have reached the end of the line for the “Trump Bump.”

Since Trump likes taking credit for the market that has roared since his presidency began, reporters Peter Coy, Joshua Green and Shawn Donnan used their cover story to examine the extent of the “Trump Slump” and ask whether the president is to blame for the recent downturns. While they cite the conventional argument that presidents in general get too much credit for the state of the market, they also say Trump’s positive impact on the market is undeniable between his tax cuts, his deregulation agenda and other measures.

The counterargument to Trump’s boost in the market can be found in his trade wars with China, his feud with Federal Reserve chair Jerome Powell over interest rates, and his tendency to moving the market with public statements and uncertain leadership. Coy, Green and Donnan also note that Trump has cast many of his more stabilizing advisers aside, which could have major consequences if the recent downturn evolves into a larger trend.

“The Trump Slump is a bigger phenomenon than just a downturn in the stock market. But every red day on Wall Street is another punch to the president’s gut,” they write.

As of this writing, the Dow is down by another 500 points, approximately.

[Image via Bloomberg Businessweek]

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