President Trump on Tuesday called the big selloff on Wall Street a “little pause” in the economic boom, and he warned that voting Democrat in the midterms would send stocks lower.
“The Stock Market is up massively since the Election, but is now taking a little pause - people want to see what happens with the Midterms,” he tweeted. “If you want your Stocks to go down, I strongly suggest voting Democrat. They like the Venezuela financial model, High Taxes & Open Borders!”
Mr. Trump frequently boasted about the soaring stock market and the corresponding growth in 401(k) retirement plans. That stopped with the massive selloff last week.
He had presided over a massive surge in stocks since taking office, with the Dow Jones Industrial Average climbing from 19,827 on inauguration day to a record-high 26,823 on Oct. 3.
Then the markets took a dive last week and wiped out all the year’s gains on the Dow Jones and S&P 500.
The Dow Jones was set top open Tuesday slightly up at 24,440, which is a 23 percent gain since Mr. Trump’s inauguration Jan. 20, 2017.