Donald Trump’s tweet about the stock market backfired on him spectacularly
On Wednesday morning, Donald Trump used Twitter to viciously, dishonestly, and semi-illiterately attack his own handpicked leaders of the FBI, CIA, and U.S. intel community. By Wednesday afternoon he seemed to be in a more upbeat mood, and he found himself bragging about the stock market. But that quickly blew up in his face.
The stock market has had a brutal few months, but it has been partially rebounding over the past week. The Dow Jones Industrial Average closed on Wednesday at 25,014 – and a few moments later, Trump triumphantly tweeted “Dow just broke 25,000. Tremendous news!” Here’s the trouble. More than a year ago, on January 4th, 2018, Trump tweeted “Dow just crashes through 25,000. Congrats!” Oops.
Donald Trump just reminded us all that the stock market hasn’t gained any ground at all over the past year. It’s not as if the stock market goes up every year. But the market breaking even for the year is certainly not something that the President of the United States should be bragging about. Trump keeps claiming that the economy is strong and growing, but his own year-apart tweets suggest that the economy has run out of gas since he inherited it from President Obama.
You have to wonder what Donald Trump will do next. If the DJIA goes down on Thursday, but then goes back up over the 25,000 threshold on Friday, will he once again post a self-congratulatory tweet? This guy clearly isn’t thinking ahead – or even thinking at all.
