(DCNF)—Former President Donald Trump blamed the Monday stock market dive on Vice President Kamala Harris in a series of Truth Social posts.
The market experienced a worldwide sell-off on Monday that hit American stocks as concerns over a possible U.S. recession take hold, Fox Business reported. Trump took to Truth Social to attribute the downturn to Harris being “even worse” than President Joe Biden, predicting an economic depression in 2024.
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“Of course there is a massive market downturn. Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic that DESTROYED San Francisco and California, as a whole,” Trump posted. “Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!”
The Dow Jones Industrial Average plunged 1,000 points on Monday, according to Fox Business.
Trump separately posted that he will bring “PROSPERITY” and peace if reelected, in contrast to Harris. Harris’ campaign X account has yet to address the downturn, as of this writing.
Former Federal Reserve economist Claudia Sahm, who established the “Sahm Rule,” which has accurately predicted past recessions, warned about the economy’s worrisome trajectory following a dismal jobs report on Friday.
The “Sahm Rule” is a sign of the beginning of a recession and takes place when the three-month unemployment rate average jumps by 0.5% or more compared to the lowest three-month average from the past year, according to the Federal Reserve Bank of St. Louis. Sahm on “Bloomberg Surveillance” responded “it triggered” when host Tom Keen asked if “the Sahm rule is in force at this moment,” based on the jobs report data.
Billionaire investor Barry Sternlicht on Tuesday warned that Harris’ policies are harmful to business and that she is more left-wing than Biden.
“I don’t think it’s in her nature to go to the middle. She’s further left than Biden. And she has some policies that are obviously abhorrent to business,” Sternlicht said. “You know, we’ll see how that plays out … And she needs to go to the center.”
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