- Actions were still tumbled on Wednesday after worrying GDP numbers. The opposite drop some of the gains that the markets have seen this month since the reciprocal prices were interrupted. Trump blamed his predecessor, saying “it's the Biden stock market”.
The bears are back to Wall Street.
The actions dropped once again in the middle of the morning on Wednesday following data discouraging data on the American economy, fears of recession. President Donald Trump, on the other hand, tried to blame his predecessor for the decline, writing “it is the Biden stock market, not” on Trump social.
The Dow fell by 468 points (1.15%) at 10:30 a.m. The Nasdaq index was in an even worse form, lowering 321 points (1.83%), while the S&P 500 index dropped by 73 points (1.3%). At one point, the DOW was down more than 750 points.
The sale of the market comes after the trade department announced that the gross domestic product in the first quarter dropped by 0.3%. It is a huge turnaround compared to the growth of 2.4% in the fourth quarter of last year. The report also warned against a slowdown in consumption expenses as well as public spending.
The actions spent much of April to recover the losses that occurred after Trump announced his reciprocal prices on the 2. The clues began to bounce once these prices were interrupted.
The GDP report, however, has relaunched the concerns that back and forth on foreign policy could push the American economy into a recession.
Trump, in his article on social networks, refused to accept responsibility, despite the losses that took place during his administration. Rather, he continued to insist that the drop had nothing to do with the prices.
“I did not take over before January 20th“, He said.” The prices will start to launch soon, and companies are starting to move to the United States in record numbers. Our country will explode, but we have to get rid of Biden's “overhang”. It will take a while, has nothing to do with the prices, only that it has left us bad figures, but when the boom starts, it will be like no other. Be patient !!! “
Since Trump took office, the S&P 500 has lost 9% of its value. The Dow and the Nasdaq are both decreasing by about 8% compared to their position on January 19.
This story was initially presented on Fortune.com
