Fox News Smears Trump
On Monday, Fox News anchor Neil Cavuto scrutinized former President Trump’s recent remarks regarding the stock market, particularly in light of Trump’s criticism of President Biden and Vice President Harris for the recent market downturn. Trump attributed the drop in Wall Street to the current administration, following a slide triggered by instability in the Japanese economy and concerns over a slowing U.S. job market.
Earlier this year, when the stock market was performing well, Trump attributed the gains to optimism about his potential return to the White House. Cavuto pointed out the inconsistency in Trump’s position, noting, “It’s remarkable how Trump claims credit when the market is up, but blames the Democrats when it declines.” Cavuto further emphasized that some of the largest market declines occurred during Trump’s presidency, particularly during the COVID-19 pandemic, which complicates the narrative that market performance is solely a reflection of presidential leadership.
On Monday, the Dow Jones Industrial Average experienced a significant decline of approximately 1,100 points, marking the worst day for U.S. markets since 2022. In response, Republicans labeled the downturn the “Kamala Crash,” attributing the market slump to Vice President Harris.
In a post on Truth Social, Trump criticized Harris and President Biden, declaring, “Of course there’s a monumental market downturn. Kamala is much worse than Crooked Joe. The markets won’t. accept the Radical Left Lunatic who DESTROYED California. Next, America faces THE GREAT DEPRESSION OF 2024! You can’t play around with MARKETS. KAMALA CRASH!!!”
Trump had previously expressed a hope for an economic downturn within the next year to avoid being seen as a successor to the Great Depression-era President Hoover, who took office shortly before the 1929 stock market crash.
Ammar Moussa, spokesperson for Harris, responded sharply to Trump’s comments, accusing him of promoting “chaotic ranting lies” and failing to provide sound economic management during his presidency. Moussa criticized Trump’s record, suggesting his policies favored the wealthy and led to significant economic challenges for American families, including higher costs and increased inflation.
Meanwhile, on Tuesday, the Japanese Nikkei index rebounded by around 10%, recovering much of Monday’s losses, though it remains uncertain whether U.S. markets will follow this recovery trend.
