… The Dow was soaring, and Trump was tweeting and all was well. Each day the market was up was a good day for Trump and he missed few opportunities to make that case to the public. The Dow’s gains were even maybe reducing the federal debt somehow, who knows! All was well.
And then it wasn’t. …
The Dow has now given up a third of the gains its seen since he was inaugurated and more than a quarter of the gains its seen since the election. The S&P’s drop was more severe, losing 37 percent since inauguration and 31 percent since Nov. 8, 2016. …
Everyone saw this coming. Stock markets don’t go up forever. Markets often go down, occasionally spectacularly. Trump’s constant insistence on the strength of the markets being a positive reflection of his presidency meant that, inevitably, it would be noted when the markets dropped significantly. His political opponents were easily teed up. CONT.
Philip Bump, Washington Post