Trump Boasts Of Stock Market Gains During SOTU (Amid 2-Day Slump)

during the State of the Union address in the chamber of the U.S. House of Representatives January 30, 2018 in Washington, DC. This is the first State of the Union address given by U.S. President Donald Trump and his second joint-session address to Congress.
WASHINGTON, DC - JANUARY 30: U.S. President Donald J. Trump arrives for the State of the Union address in the chamber of the U.S. House of Representatives January 30, 2018 in Washington, DC. This is the first State ... WASHINGTON, DC - JANUARY 30: U.S. President Donald J. Trump arrives for the State of the Union address in the chamber of the U.S. House of Representatives January 30, 2018 in Washington, DC. This is the first State of the Union address given by U.S. President Donald Trump and his second joint-session address to Congress. (Photo by Alex Wong/Getty Images) MORE LESS
|
January 30, 2018 9:28 p.m.
EDITORS' NOTE: TPM is making our COVID-19 coverage free to all readers during this national health crisis. If you’d like to support TPM's reporters, editors and staff, the best way to do so is to become a member.

President Donald Trump boasted on Tuesday, during his first State of the Union address, that the U.S. stock market “has smashed one record after another.”

Trump has often cited the stock market as a marker of his presidency’s success, and during the official address he claimed it has gained “$8 trillion and more in value in just this short period of time.”

“The great news for Americans’ 401k, retirement, pension, and college savings accounts have gone through the roof,” Trump said.

His remarks appeared at odds with current market data; the Dow Jones industrial average closed Tuesday nearly 363 points down after its biggest two-day drop since the Brexit vote in June 2016 sparked uncertainty.

Comments
advertisement
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Senior Editor:
Special Projects Editor:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Publishing Associate:
Front-End Developer:
Senior Designer: