Trump points to midterms, Fed, and Democrats in flailing explanation for tanking stock market


President Trump has a brand new explanation for the stock market's recent turmoil: It's just because of the midterm elections. Oh, and probably the Democrats.
In a tweet Tuesday, Trump assured the nation that the stock market is just "taking a little pause" right now after rising "massively" since he was elected. Stocks have, in fact, been struggling recently, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all dropping between six and 10 percent in October, reports CNBC.
So why is this happening? Experts point to rising interest rates and trade tensions with China, but Trump suggests it's just because "people want to see what happens with the Midterms." He also "strongly" recommended those who want their stocks to go down to vote for Democrats, setting himself up nicely to continue blaming his political opponents after they likely gain some power next week.
Subscribe to 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.
In a second tweet, Trump quoted a strategist for Wells Fargo, who said that the S&P would quickly recover if "the Fed backs off and starts talking a little more Dovish." The president previously complained that the Federal Reserve had "gone crazy" when it raised interest rates and said he's "very unhappy with the Fed because Obama had zero interest rates.”
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
The Week Unwrapped: Will robots benefit from a sense of touch
Podcast Plus, has Donald Trump given centrism a new lease of life? And was it wrong to release the deadly film Rust?
-
The week's best photos
In Pictures A dancing couple, a new pope, and more
-
How to create your perfect bedscape
The Week Recommends Nighttime is the right time to get excited about going to bed
-
Fed leaves rates unchanged as Powell warns on tariffs
speed read The Federal Reserve says the risks of higher inflation and unemployment are increasing under Trump's tariffs
-
Denmark to grill US envoy on Greenland spying report
speed read The Trump administration ramped up spying on Greenland, says reporting by The Wall Street Journal
-
Supreme Court allows transgender troop ban
speed read The US Supreme Court will let the Trump administration begin executing its ban on transgender military service members
-
Hollywood confounded by Trump's film tariff idea
speed read President Trump proposed a '100% tariff' on movies 'produced in foreign lands'
-
Trump offers migrants $1,000 to 'self-deport'
speed read The Department of Homeland Security says undocumented immigrants can leave the US in a more 'dignified way'
-
Trump is not sure he must follow the Constitution
speed read When asked about due process for migrants in a TV interview, President Trump said he didn't know whether he had to uphold the Fifth Amendment
-
Trump judge bars deportations under 1798 law
speed read A Trump appointee has ruled that the president's use of a wartime act for deportations is illegal
-
Trump ousts Waltz as NSA, taps him for UN role
speed read President Donald Trump removed Mike Waltz as national security adviser and nominated him as U.S. ambassador to the United Nations