Wall Street stocks plunge in chaotic session, S&P 500 erases 2018 gains

Trump breaks his silence on stock market decline

The Dow giveth, and the Dow taketh away: The Dow Jones industrial average saw its worst single-day point drop ever on Monday, plummeting 1,175 points and erasing all of its 2018 gains.

"The left is spinning this because they really want to associate President Trump with anything negative", he said. And if Trump declines to release their memo, top Senate Democrat Chuck Schumer said, they'll be proven right.

With stock markets declining again, the White House on Monday said the fundamentals of the US economy are "strong". But on Saturday, House Speaker Paul Ryan tweeted out a message pulled from an Associated Press story: "A secretary at a public high school in Lancaster, PA, said she was pleasantly surprised her pay went up $1.50 a week. she said that will more than cover her Costco membership for the year". Though Trump's approval ratings have improved, to the low 40% range in some recent polls, he remains in a position that historically has been perilous for presidents in midterm polls.

If Trump deserves credit for a rising stock market - and experts, those pests, say he does not - then logically, critics said, he deserves credit for a historic plunge, too.

President Trump has frequently remarked about the massive gains that the market has made since he has been in office.

"Somebody said 'treasonous.' I mean, yeah, I guess". Or maybe even President Trump. And if there is a correction in the market, it may benefit Trump and the Republicans for it to happen now and not closer to November.

It's always possible stocks could go back on a tear in the weeks to come.

This prompted fears about an increase in inflation, meaning the Federal Reserve would have to raise interest rates to control it, prompting traders to ditch shares.

"Number one, the Trump stock market rally, it rolls on", Varney told "Fox & Friends".

It is pretty unusual to have the White House make any statements about the movements of the stock market unless they are particularly positive or downright frightful.



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