The U.S. president linked the recent decline in equity valuations following the midterm elections to his administration’s efforts to block Tehran from developing atomic weapons. Donald Trump stated that a loss of approximately $3 trillion in market value was the cost of keeping Iran from obtaining a nuclear weapon, despite some analysts suggesting the sell-off was driven by investor fears that Democrats would target the technology sector after gaining control of Congress.
The volatility follows a collapse in the valuation of Trump Media, the parent company of Truth Social, which recently hit a new all-time low of $4.64. Shares of the firm are now trading 97% below their peak of $175 and have recorded $1.8B in cumulative net losses since the company’s inception. While the Dow rose more than 1,000 points during a recent period of instability, Trump Media’s stock continued to fall, a trend the company’s merger with a nuclear-fusion firm has not yet reversed.
