Trump blames Democrats for the sharp drop in the stock market, with a market value evaporating by about $3 trillion
2026-11-07 01:24:38
According to CoinMeta, President Trump blamed the Democrats for causing a sharp decline in the stock market after the election, with the S&P 500 index losing approximately $3 trillion in value, and the Nasdaq 100 index experiencing its worst performance since 2020. He described the market as having "suffered the worst day in history" and pointed out that Americans' 401(k) plans were affected, attributing the responsibility to the Democrats. Trump expects the market and economy to recover. Tech and semiconductor stocks led the declines, with SPDR funds falling by 8%, Vaneck semiconductors ETF falling by more than 11%. NVIDIA ($NVDA) fell by more than 9%, and AMD and Micron (Micron) each fell by more than 17%. Tesla ($TSLA) fell by nearly 11%. This sell-off followed a strong rebound after the election, and investors are concerned about possible restrictions on AI infrastructure and data center expansion under Democratic control of Congress. Senator Bernie Sanders reiterated his call for a nationwide pause on new data centers, and reports show that as of October, there were over 500 data centers in the United States that had been paused or prohibited from construction. On Thursday, the S&P 500 ETF fell by 4.41%, and the Nasdaq 100 ETF fell by 6.49%.
Source:X
This content is for market information only and does not constitute investment advice.
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