President Trump blamed good news about the economy for causing the fluctuations in the stock market that took place at the end of last week stretching into Monday and Tuesday.
“In the ‘old days,’ when good news was reported, the Stock Market would go up. Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!” Trump tweeted Wednesday.
In the “old days,” when good news was reported, the Stock Market would go up. Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!
— Donald J. Trump (@realDonaldTrump) February 7, 2018
The drop in stock prices on Friday and Monday, and then an initial drop on Tuesday morning before a rally, have largely been blamed on a correction in the stock market that was coming after months of continuous growth.
Other analysts blamed news of rising wages and other benefits going to workers for causing the stock market to lose some value.
Treasury Secretary Steven Mnuchin said Trump and his administration believe the underlying fundamentals of the economy are strong and the growth in stocks since the November 2016 election is more representative of economic reality than the last few days of uncertainty.
