President Trump implied in a Feb. 24 tweet that stock market losses were overdone, saying 'Stock Market starting to look very good to me!' It turned out to be the worst week for U.S. stocks since the 2008 financial crisis.
"The stock market is up 80 percent," Trump said."In some cases much higher than that. 401s are at record levels." But if you look at the Dow Jones Industrial Average, it was up by 56 percent on Feb. 22 compared with the date of Trump's election. Some of those gains were erased in the past week.
"And we've set 144 records on the stock market in 3 years. 144 records!" Trump said in Phoenix last month. It's easy to get caught up in the exuberance of a rising market, said Matt McDonald, a partner at Hamilton Place Strategies, a political and economic consulting firm. "I just think everybody — whether you are an investor or whether you're an ordinary Main Street person — people should not overreact," Kudlow told reporters.
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