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Donald Trump Faces Backlash for Taking Credit of the Booming Stock Market During Joe Biden's Presidency

donald trump faces backlash for taking credit of the stock market
Source: MEGA

Feb. 2 2024, Published 12:58 p.m. ET

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Former President Donald Trump claimed in an interview with Fox Business anchor Maria Bartiromo that the stock market's recent boom is due to investors believing he will return to the White House.

The interview, set to air on Sunday, February 3, saw Trump discuss his economic policy and provide his analysis of the current state of the economy under President Joe Biden.

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donald trump faces backlash for taking credit of the stock market
Source: MEGA

Donald Trump took credit for the stock market under Joe Biden.

Both the Dow Jones Industrial Average and the S&P 500 index have reached record heights under President Biden. However, Trump attempted to take credit for these accomplishments in his interview, stating that investors believe he will be the Republican nominee and defeat Biden in the upcoming election.

In response to Trump's claims, Bartiromo asked, "So I mean, the Biden team can say, 'Well, if things are so bad, how could the stock market's on a roll?'"

Trump confidently replied, "Because they think I'm going to be elected."

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donald trump faces backlash for taking credit of the stock market
Source: MEGA

The S&B 500 has reached record heights under Joe Biden.

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Bartiromo appeared somewhat perplexed by the former president's answer, following up with, "You think the stock market's rallying because people think you're going to be elected?"

"Yeah. If you take a look at Iowa, if you take a look at New Hampshire. The stock market’s been going crazy since then," Trump added. "And long before then, when I when I announced I was running, I took the lead early. And then I beat everybody, including Ron DeSantis. I call him DeSantis. And I took the other names away."

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donald trump faces backlash for taking credit of the stock market
Source: MEGA

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The Fox Business clip was shared on X, formerly known as Twitter, where several users commented on Trump taking credit for the stock market during Biden's presidency.

One user shared a chart showing the S&P 500's growth over the last four years, showing consistent and staggering growth. They commented, "Note the stock market loved the prospect of Biden becoming Prez & Dems taking Congress from early 2020 to well after the inauguration."

Another user shared a video from 2020 where Trump said that the stock market would crash if Biden got elected. They shared the clip in a post that read, "It's crucial to hold leaders accountable for their words and actions, especially when they contradict themselves. Highlighting past statements can provide valuable context and encourage critical thinking about current claims."

A third user pointed out, "The stock market is NOT the economy. Only 53% of Americans own stocks, and the wealthiest 10 percent Americans own 89 percent of those stocks. GDP growth points to a growing economy under Biden, and a healthy stock market is a result of this growth."

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This interview, which will be aired on Fox Business, will reportedly give insight into Trump's perception of the stock market and his belief that investors are optimistic about his potential return to the White House.

The stock market's performance is always subject to various factors, such as economic indicators, geopolitical events and investor sentiment.

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