Trump Blames Democrats For Market Losses After Midterm Election Setback

Hindustan Times · stocks

Donald Trump has blamed Democrats for significant losses in Americans' 401(k) portfolios, particularly in technology and AI-related stocks. The selloff deepened following the Republican Party's substantial losses in the midterm elections. Trump expressed dismay on his Truth Social platform, stating that the market's decline was due to Democrats, not Republicans. He suggested that Democrats' control of the House and Senate would lead to tighter oversight of the AI industry, contributing to the market rout. The Nasdaq 100 experienced its worst session since March 2020, losing $2.3 trillion in value.