Trump: If Hillary Clinton had won, stock market would have lost 50% in value
President Trump on Sunday asserted that the stock market would have crashed if Hillary Clinton had won the election in 2016.
“If the Dems (Crooked Hillary) got elected, your stocks would be down 50% from values on Election Day. Now they have a great future – and just beginning!” Trump wrote on Twitter, while including a Fox Business report on the rise of the stock market during his presidency.
If the Dems (Crooked Hillary) got elected, your stocks would be down 50% from values on Election Day. Now they have a great future - and just beginning! https://t.co/9TzSC8F8vY
— Donald J. Trump (@realDonaldTrump) December 31, 2017
The president, however, didn’t refer to any data or analysis to support his claim that the market would have dropped in the event of Clinton’s victory. Meanwhile, Trump often takes credit for the stock market’s recent growth.
This has to be a joke. The stock market boomer under Obama, unemployment rates decreased significantly, and I won't even touch the BS about banning Christmas. https://t.co/uYsqVkyVq3
— Bdrverity (@bdrverity) December 31, 2017
He doesn’t know anything.
— Phil® (@fishbulb18) December 31, 2017
Based on what. They soared during the Obama Presidency. You are making thing up again. We stopped believing you a year ago.
— BearsNBourbon (@BearsNBourbon) December 31, 2017
“The stock market hit a new high 84 times since we won the election on November 8th of last year,” the president said during an appearance on Wednesday.
Related: Trump's wildest tweets of 2017
While analysts say Trump’s pro-business approach is one of the factors driving the stock prices, there’s a risk for presidents to directly associate themselves with the market’s trajectory.
“The peril for Mr. Trump is that market cycles invariably have downturns, too, sometimes significant ones, and claiming credit for the rise could also mean owning the fall,” notes the New York Times.
