A CFRA research report revealed that the first 100 days in President Donald Trump's office was the worst of any new president for the S&P 500 index since the Watergate scandal in 1973 during President Richard Nixon's second term.
The CFRA report confirmed that the fall of 7.9% of the S&P 500 from January 20 to April 25 near the second most intense first 100-day performance, returning to the beginning of President Richard Nixon's second term in 1973 when the S&P 500 dropped by 9.9%.
The S&P 500 took a nosedive in April, defeating 10% in just two days and brief entry into the Bear Market territory following Trump's 'reward' announcement. The S&P 500 reached a closing of 6.144K on February 19 and closed on April 25 at 5.525K, which removed all post-election from November.
However, Trump has another day of trading to cut off his losses since his first 100 days technically ends on Tuesday. Therefore, he could approach the third worst start – the 6.9% decline in the first 100 days of George W. Bush in 2001 if the S&P 500 rallies this week.
CFRA claims Trump's first 100 days is the second worst for S&P 500
Ouch S&P 500 dropped about 8% from Trump's inauguration -at speed for the worst first 100 days for a president since Gerald Ford's resignation after Nixon resigned in 1974. pic.twitter.com/mwkkrzlpkg
– Mike Levin (@mikelevin) April 28, 2025
According to CFRA data, the S&P 500 rose to 3.7% from election day to inauguration day before the rally exploded and then a pigeon when Trump used his first days in the office to push other campaign campaigns with less serious investors.
Luca Bindelli, head of the Lombard Odier investment strategy, said the policy under Trump was more unpredictable than his first term in office, thanks to the daily messaging felt either unscribed or flip-flopped, making the equity markets difficult to navigate on a short-term basis.
“Everyone has 'Trump 1.0' in mind when we have a stimulation followed by a trade war, but it turns under Trump 2.0 that this template is back to the front, and what we got was a trade war before any stimulus – the markets are still awaiting the good news.”
–LUCA BINDELLILeader of Lombard Odier investment strategy
Trump's return to the office even left Gerald Ford's increase in 1974, after Richard Nixon's resignation due to watergate, in a positive light. In just 92 days, Trump's approval rating fell nearly 24 points below Biden's rating at the same point in his term. He even worsened his own 2017 record when he was five points higher.
Trump has touched on the fall of the global stock market with 'release day'
AJ Bell noted that global stock markets fell to the end of Trump's “Liberation Day” tariffs on April 2, wiping $ 8.6 trillion (£ 6.4 trillion) from the value of indices worldwide. The loss has been reduced to nearly $ 1 trillion since Trump announced a 90-day suspension in most of his tariffs on April 9.
According to Goldman Sachs, Strategic Bank of America warned Friday that the conditions for a long -standing stock market were missing and encouraging investors to sell in the latest rebound in US equities and dollars. Foreign investors have already received the memo and that has shared American shares since the beginning of March.
David Lefkowitz, head of US equities at UBS's Global Wealth Management Arm, said he expects revenue for S&P 500 companies to be flat this year. He added that a slowdown of tariffs induced in economic activity and the associated higher cost is crimp income.
Eric Sterner, chief investment officer at Apollon Wealth, said the world also needs the cloud of uncertainty in this trade as it prevents businesses from capital expenditures and rent plans and can also ruin consumer spending.
Cryptopolitan Academy: Tired of market swings? Learn how the Defi can help you develop a steady passive income. Register now
