The Dow Jones Industrial Average plummeted nearly 1,000 points during President Trump's speech in Cincinnati, Ohio, on Monday, where he boasted about the Republican tax cuts and the state of the economy. At one point, the Dow was down more than 1,500 points. It later began to recover, but not before the plunge caused newscasters to interrupt coverage of the president's speech to discuss it:
"Your taxes are going way down," Trump meanwhile told the assembled crowd in Cincinnati, adding: "America is once again open for business."
At one point, the Dow had lost as much as 38 percent of gains made under Trump, The Washington Post's Aaron Blake reported. "The stock market dip follows months of record highs," CNN reports, "but still leaves the economy at a significantly higher level than it was when Trump took office."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
The Week Unwrapped: Should we be eating less fat – or more?Podcast Plus who will benefit from the surprise Dutch election result? And how can art improve our health?
-
AI models may be developing a ‘survival drive’Under the radar Chatbots are refusing to shut down
-
Crossword: October 31, 2025The Week's daily crossword
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
