Donald Trump has been happily taking credit for the rising stock market over the past few months, but it will be interesting to see how he spins the latest turn of events on Wall Street.
Mere hours after Jerome H. Powell was sworn in as the new chairman of the Federal Reserve on Monday, the stock market plunged with the Dow Jones Industrial Average losing more than 1,500 points — the biggest single-day point drop to date.
The stock market began plunging at the exact moment the President was touting his economic success. Here’s Fox News actually interrupting Trump and Powell’s speech on the subject to report on the alarming and sudden plunge:
https://twitter.com/morninggloria/status/960609496149217281
By market close on Monday, BuzzFeed News reports that stocks had partially recovered to a 1,100-point drop, or a 4.6% decline.