The U.S. president told citizens they are responsible for a one-day wipeout of approximately $3 trillion in stock market value following the recent midterm elections. Donald Trump called the election outcome a “giant step back in History” and stated that those who voted against his party had only themselves to blame for the loss, despite promising that the economy would return “bigger and stronger.”
The Nov 5 sell-off saw the S&P 500 lose $3 trillion in market capitalization, a decline some analysts linked to investor fears regarding Democratic policies toward Big Tech. The broader market turmoil coincided with a continued collapse in Trump Media, the parent company of Truth Social. The firm’s shares hit an all-time low of $4.64, down 97% from their peak of $175, bringing the company’s cumulative net losses to $1.8 billion since inception.