Trump blames stock market fall on 'good news'

Trump tweeted that "Today, when good news is reported, the Stock Market goes down."

Afp February 07, 2018
US President Donald Trump holds a roundtable discussion with law enforcement officials and local community leaders on the threat of MS-13 on February 6, 2018 at the White House in Washington,DC. PHOTO:AFP

WASHINGTON: 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!"

Key points from Trump's State of the Union address

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.


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