Trump blames Democrats for stock market plunge after midterm wins

economictimes.indiatimes.com —

President Donald Trump blamed Democratic victories in the midterm elections for a sharp US stock market plunge, saying retirement savings were affected and urging investors not to panic. The Nasdaq Composite fell 5.52 percent, the S&P 500 dropped 4.36 percent, and the Dow lost 1,833 points on Thursday, erasing prior gains. S&P 500 firms lost about $2.9 trillion in market value, with investor concerns over potential Democratic restrictions on artificial intelligence and data centers contributing to the sell-off. The decline followed a rally on Wednesday after Democrats were projected to reclaim control of both chambers of Congress. A Democratic majority would enable increased scrutiny of Trump's administration and greater influence over legislation and nominations.


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