Trump’s Great Economy? Stock Market Now Unchanged for the Year After Thursday’s Dow Nosedive

Colby HallDec 6th, 2018, 2:47 pm
 

The Dow Jones Index has been in a precipitous fall over the past two days, and if the current bull market continues, the Dow Jones index will close below where it was at the beginning of 2018.

At the time of publishing, the Dow was down 500 points on Thursday, which follows a 700 point loss on Wednesday. Many financial experts believe the sell-off is a result of uncertainty brought about by President Donald Trump’s trade wars, most significantly with China.

As CNN’s Jim Sciutto tweeted mid-day Thursday:

Earlier today news broke that the U.S. trade deficit for October reached a record high of just over $55 Billion.  Give that a strong economy is a central tenet to the Trump administration’s political rhetoric, record trade deficit, a flat stock market, and a record deficit spending does not point to greener pastures down the road.

Trump has often pointed to the rising Dow Jones index as evidence of the strong economy under his leadership. The GOP Tax Bill of 2017 that he signed has led to quarterly GDP growth. Just one example of Trump tooting his own economic horn:

Some have noted that was a disposable “sugar high” and not sustainable growth. Increased deficit spending seems to undermine the GOP promise of economic growth leading to a lower deficit. Like all financial market and government spending reports, however, that story is forever unfolding.

While the Dow has been flat year over year, Trump is still very much in the black. On his Inauguration Day, Jan. 20, 2017, the Dow closed at 19,827.25 on which means it has about 4,500 points to go before the Trump rally gains disappear.

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Colby Hall - Founding Editor

Colby Hall is the Founding Editor of Mediaite.com. He is also a Peabody Award-winning television producer of non-fiction narrative programming as well as a terrific dancer and preparer of grilled meats.