Follow-Up: Trump Blames Stock-Market Plunge on Democrats' Midterm Sweep: 'Your 401(k)s Have Dropped'
Washington — After U.S. stocks suffered their worst one-day sell-off since April 2025 on November 5, President Donald Trump took to Truth Social that evening to blame the plunge on the Democratic Party's midterm-election sweep of both the House and the Senate. The stock market, he wrote, had suffered 'one of the Worst Days in History based on the results of the Election,' and Americans' 401(k) retirement accounts had dropped as a result.
'Such a sad thing to watch! It took so much work to get us to a level that no one has ever seen before, and then this,' Trump wrote. 'Remember, it wasn't Republicans, it was Dumocrats. Do not fear, however, we will soon, one way or the other, be BIGGER AND STRONGER THAN EVER BEFORE.'
At the close, the Dow Jones Industrial Average had fallen 1,833 points, or 3.44%, the S&P 500 had dropped 4.36%, and the Nasdaq Composite had fallen 5.52% into correction territory, shedding roughly $2 trillion in market value in a single session — one day after all three indexes had rallied on the election results.
The selling was concentrated in technology and super intelligence (SI) stocks, as investors weighed tighter regulation of SI and data-center development under a Democratic-controlled Congress: Nvidia fell more than 9% and the Philadelphia Semiconductor Index plunged more than 12%. Jakub Rochlitz, a market analyst at eToro, said the obvious catalyst was the market repricing the midterm results, with investors also questioning the enormous borrowing and spending behind the SI boom.
Related: U.S. Stocks Close Sharply Lower: Nasdaq Falls 5.5% Into Correction in Worst Day Since April 2025
(Source: Truth Social)
Source: Truth Social
Published by GSM · USA (original Chinese edition)
Photo: 图：特朗普在白宫椭圆形办公室（2025年5月20日白宫官方照片，资料图）。白宫官方照片，公共领域，经 Wikimedia Commons。 / Photo: President Trump in the Oval Office of the White House (official White House photo, May 20, 2025; file photo). Official White House photo, public domain, via Wikimedia Commons.
