As the stock market continues its Trump slide toward the worst performance since the Great Recession, Obama’s stock market performance is now twice as good as Trump‘s.
The Washington Post reported a statistic that has Trump scared:
Before the market downturn, Trump would take prepared remarks and add comments about the economy, officials say. But lately, he has tweeted less about the economy.
The Dow’s performance since Trump took office is now significantly less than what was achieved at the same point in Barack Obama’s presidency. The Dow is up 18 percent under Trump, compared with 45 percent at this point under Obama, according to Bespoke Investments.
Trump has repeatedly faulted the Federal Reserve for the market slide. But on Wall Street, many say Trump’s recent actions are also to blame.
Except for complaining about the Fed, Trump has largely gone silent on the economy. His days of bragging about and taking credit for the stock market are long gone. It now seems like everytime Trump opens his mouth, he says something else that causes the market to tumble. Trump started a trade war then oversold his trade war truce with China. Trump bragged that he would be proud to shut down the government, and then he did shut down the government. All of these events were Trump created, and they sent markets plunging.
Trump is just above the historical average for presidents at this point in their terms of 15.5%, and he is plunging fast toward the Republican presidential average of 11%.
Wall Street has lost confidence in Trump and each more erratic move that Trump makes only worsens the crisis. A recession is looming, and no one has confidence that Trump will be able to deal with it.
Wall Street has finally caught up with the rest of the country in that they miss the steady, competent, and intelligent leadership of Barack Obama.
For more discussion about this story join our Rachel Maddow and MSNBC group.
Follow Jason Easley on Facebook.