US President Donald Trump commented on recent stock market volatility for the first time on Wednesday, suggesting a wild sell-off may be due to good news about the economy.
‘In the ‘old days,’ when good news was reported, the Stock Market would go up,’ Trump tweeted. ‘Today, when good news is reported, the Stock Market goes down.’
The real estate tycoon suggested that was a ‘big mistake, and we have so much good (great) news about the economy!’
Tuesday’s sell-off and partial recovery on Wall Street have been fueled by expectations that rising wages and inflation will spur the Federal Reserve to raise interest rates.
That could crimp corporations used to years of cheap borrowing.
Throughout his presidency, Trump has sought to portray record rises on Wall Street as indicative of the broader economy, rather than a reflection corporate America.