Stock market retreat in Trump’s first 100 days is among worst starts for a president in almost a century
- The stock market under Trump saw one of its worst performance never recorded in the first 100 days of an American presidency. This is the worst beginning of a year since Gerald Ford took over for Richard Nixon 50 years ago, and the fifth worst performance in stock markets over almost a century – a period that includes the great depression, the great wars and the 1970s stagflationaries.
The first 100 days of President Donald Trump at the White House were historically bad for the stock market.
From January 20 to the end of April, the S&P 500 fell by almost 8%. This is the worst start for a presidential term since Gerald Ford took the reins of the executive branch after Richard Nixon resigned in 1974. And this is the fifth first departure since 1928, the first date for which S&P Global Market Intelligence has data.
(While the S&P 500 in its current incarnation has only existed since 1957, S&P Global Intelligence has comparable data dating back to 1928 from previous stock indices that Standard & Poor has developed.)
The dull performance of the stock market under Trump is only ranked on the beginnings of the terms of Franklin D. Roosevelt in 1933 and 1937, during the depths of the Great Depression. It also exceeded Ford and the start of the second term of Nixon in 1973, when the United States confronted another economic crisis in the form of “stagflation”.
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Add to that the tripping of the dollar and a sale in traditional investment safely of cash tickets, and the first 100 days on the markets were only disturbing for investors.
“The US stock market and the dollar have achieved less than a hundred in the last one hundred days that they have only behaved in the first one hundred days of all the other presidential terms since 1980,” John Higgins, chief economist of the capital markets, “John the next 100 days will not be as turbulent as the last on Monday?”
Meanwhile, in the first 100 days of Joe Biden's round in the oval office, while the world markets bounced damage inflicted by COVID-19, the S&P 500 jumped more than 9%. This ranks like the third best start for a commander -in -chief since 1928.
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Prices, Doge and Deepseek
The stock market in difficulty occurs while Trump's pricing plans sowed economic chaos during the last month. In early April, the president called for a reference rate of 10% on all imported goods and instituted additional “reciprocal prices” over almost 60 years country and territories as well as the European Union. He also caused a pricing battle with China and increased taxes on imports from the People's Republic to 145%.
“The United States has lost billions of dollars a day in international trade under the sleep of Joe Biden. I have now arose this tide and I will make a fortune, very soon,” Trump poster Monday on Truth Social, its own application of social media.
The American stock markets did not respond well to the “tide” Trump rod. After the “Liberation Day”, when the president unveiled his suite of historically serious prices on April 2, the S&P 500 landed 10% in two days. “Never before an hour of presidential rhetoric costs so many people,” wrote the former Treasury Secretary Larry Summers in a job On X, shortly after, Trump displayed a cardboard graph describing an increase in foreign import taxes.
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The president also emptied the federal government with the help of the CEO of Tesla, Elon Musk, the de facto chief of the Ministry of Government Effectiveness (DOGE), a new organization designed to eliminate “waste, fraud and abuses”. Analysts were worried about how federal expenses can affect private entrepreneurs. “This is a massive source of income for many different types of businesses, not just government companies, but also private companies,” said Abigail Blanco, associate professor of economics at the University of Tampa, said previously Fortune.
Although the development of president's policies supports a large part of the blame for the turbulence of the market, it is not the only cause of the fall. Actions were negotiated with historically high values at the end of the presidency of Joe Biden, leading certain economists to fear that the market will be overvalued or over-concentrated in a handful of technological companies. And the beaten of AI media which stimulates a large part of the exuberance of the market plunged when Deepseek of China published a wide language model earlier this spring which corresponded to that of Openai, wiping billions of billions of tickets from the market capitalization of American companies.
This story was initially presented on Fortune.com
