One thing the market hates is uncertainty and that is a main feature of the Trump years. Nobody knows what he will do. His tax cut temporarily juiced stocks but the effect wore off and now we are stuck with a much bigger deficit. His tariff has caused problems too. Trump took credit when the market did well but accepts no blame when it falls. He is wrong to attack the Federal Reserve – this should not be political.
Mnuchin didn’t help either. What is going on?
Remember, Trump sold his stocks so he won’t be hurt by this.
They have no idea what they’re doing. Tax cut for the rich. Blowing up the National debt. Tariffs. Attacks on the Fed. Mnuchin call. Trump tweets. https://t.co/DNgYlnDuEr
— Eric Holder (@EricHolder) December 24, 2018
Stock markets had their worst Christmas Eve ever yesterday, with the Dow plunging more than 650 points.@mkraju reports that Republicans on the Hill are concerned about President Trump’s attacks on the Fed: https://t.co/EZmV2jCuoM pic.twitter.com/eSBP4s9Rrx
— CNN Newsroom (@CNNnewsroom) December 25, 2018
— CNBC (@CNBC) December 24, 2018
We shouldn’t be surprised if we find out later that insiders in the circle of @realdonaldtrump
have been selling short for the whole month of December.
— Richard W. Painter (@RWPUSA) December 24, 2018
— Noah Shachtman (@NoahShachtman) December 25, 2018
I don't know why Treasury Secretary Steve Mnuchin sent his panic inspiring press release. But I do know he has access to the inner workings of the @realDonaldTrump Administration and sees @POTUS up close and personal. What does @stevenmnuchin1 know that we don't know? https://t.co/wci7m2r3Jo
— Ted Lieu (@tedlieu) December 24, 2018
Trump attack on the Fed only exacerbated the sell-off on Wall Street and stocks were on track for their worst year since 2008 and the largest December decline since the 1930s. The S&P 500 closed down down 2.7 percent on Monday. @arappeport https://t.co/VvA6t61imO
— Peter Baker (@peterbakernyt) December 24, 2018
— Gennecho Finance (@GennechoFinance) December 25, 2018
I've spoken with multiple executives familiar with Mnuchin's calls and they say the same thing: Content of the calls was fine. Checking to see how things were going, what they were seeing. The BIG mistake was putting out that statement as if there was a crisis to combat.
— Ben White (@morningmoneyben) December 24, 2018
TRUMP on the stock market's big slide in December: "I think it's a tremendous opportunity to buy. Really a great opportunity to buy." pic.twitter.com/vOsdl7TiaG
— Aaron Rupar (@atrupar) December 25, 2018
— Newsweek (@Newsweek) December 25, 2018
The Dow just crossed 10 percent in losses for 2018.
Friendly reminder that Treasury Secretary Mnuchin said last year that markets would "go up higher" if the tax bill passed, and would tank if the bill didn't pass.
The opposite happened. https://t.co/CiHKrn9tJ9
— Toluse Olorunnipa (@ToluseO) December 24, 2018
President Trump has unsettled Wall Street and Washington – and it’s likely to get worse https://t.co/6lH7OamOn6
— John Harwood (@JohnJHarwood) December 24, 2018
Since Trump tweeted “Tariff Man,” the Dow has lost 3,746 points, which is just shy of 15%
— Evan Siegfried (@evansiegfried) December 24, 2018
Remember, when stocks go up, it's proof of Trump's genius, but when they go down, it's someone else's fault. Probably a conspiracy by the deep state's allies, the deep private sector.
— Paul Krugman (@paulkrugman) December 24, 2018
Reupping old thread. Reminder: Trump said in 2014 he wanted the US economy to crash and riots to ensue. https://t.co/caC2HAhK4Z
— Sarah Kendzior (@sarahkendzior) December 24, 2018
— Paul Krugman (@paulkrugman) December 25, 2018
Level at which the Dow Jones Industrial Average will enter a bear market: 21,462.71
Current level: 21,792.20
Level at which S&P 500 will enter a bear market: 23,44.60
Current level: 2,351.10 https://t.co/fXXPfIA6YH
— MarketWatch (@MarketWatch) December 24, 2018