Former President Donald Trump blamed Monday's stock market crash on Vice President Kamala Harris in a series of Truth Social posts.
The market saw a global sell-off on Monday that hit US stocks as concerns about a possible US recession took hold, Fox Business. reported. Trump took to Truth Social to attribute the slump to Harris as “even worse” than President Joe Biden, predicting an economic depression in 2024.
“Of course there is a massive market crash. Kamala is even worse than Crooked Joe. “The markets will NEVER accept the radical leftist lunatic who destroyed San Francisco and California, as a whole,” Trump said. published. “Next step, THE GREAT DEPRESSION OF 2024! You cannot play with MARKETS. KAMALA CRASH!!!”
The Dow Jones Industrial Average fell 1,000 points on Monday, according to Fox Business.
Trump separately published that he would bring “PROSPERITY” and peace if re-elected, in contrast to Harris. Harris's X campaign account has not yet addressed the fall, as of this writing.
Former Federal Reserve economist Claudia Sahm, who established the “Sahm ​​Rule,” which has accurately predicted past recessions, warned on the troubling trajectory of the economy after a dismal jobs report on Friday.
The “Sahm ​​Rule” is a sign of the beginning of a recession and occurs when the three-month unemployment rate average rises by 0.5% or more compared to the lowest three-month average from last year, seconds at the Federal Reserve Bank of St. Louis. Sahm on “Bloomberg Surveillance” replied “It was activated” when host Tom Keen asked if “the Sahm rule is in effect at this time,” according to data from the job report.
Billionaire investor Barry Sternlicht on Tuesday warned that Harris' policies are bad for business and that he is more left-wing than Biden.
“I don't think it's in his nature to go in the middle. She is further to the left than Biden. And she has policies that are obviously repugnant to business,” Sternlicht said. “You know, we'll see how that works out. … And she has to go to the center.”
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