Donald Trump Takes Credit for 'Booming' Stock Market, but the Internet Gives Him a Reality Check

Former President Donald Trump recently took credit for the booming stock market, claiming, "The only reason the stock market goes up is because I’m leading in all the polls." This statement, made at a town hall event hosted by Fox News, quickly became a lightning rod for debate. As Trump touted his influence over the market’s performance, the internet responded with a mix of skepticism and humor.

One user quipped, “Trump would take credit for the sun rising and the rain falling.” Another added, “The stock market hit a new high the week after Trump was defeated, and has hit dozens since.” Others joined in with comments like, “Trump is slipping! He didn't mention the sun came up today because of him,” and “No it's going up because the economy is doing well and people are still spending! Has nothing to do with you!” Then, someone else asked, “Can anybody guess who's fault it would be if the stock market was doing badly?” “He likes to take credit for other people’s work,” another user concluded.

Earlier, at a town hall, Trump elaborated on his belief that his success in the polls was directly responsible for the stock market’s performance. He argued, "When there's a crash — I hope it's gonna be during this next 12 months because I don't want to be Herbert Hoover. But I would say this, we have a situation which I believe the stock market goes up because I'm leading. I think if I wasn't leading, the stock market would be 25% lower. And I think frankly, if I didn't win, I think the stock market would crash, I believe," as reported by Yahoo News.

In reality, stock market movements are influenced by a complex array of factors, including economic indicators, corporate earnings, and global events. A report from December 2023 noted that while the S&P 500 index rose nearly 17 percentage points more under Trump than Biden over a similar period, this difference cannot be solely attributed to Trump’s influence.

As per CNBC, Trump has a history of making bold claims about his impact on the stock market. Following his 2020 election loss to President Joe Biden, Trump held a brief news conference to highlight the Dow Jones Industrial Average breaking the 30,000 mark. “The stock market's just broken 30,000. Never been broken, that number. That's a sacred number: 30,000. Nobody thought they'd ever see it.”

Moreover, Trump wrote, “THIS IS THE TRUMP STOCK MARKET. BECAUSE MY POLLS AGAINST BIDEN ARE SO GOOD THAT INVESTORS ARE PROJECTING THAT I WILL WIN, AND THAT WILL DRIVE THE MARKET UP. EVERYTHING ELSE IS TERRIBLE (WATCH THE MIDDLE EAST!), AND RECORD SETTING INFLATION HAS ALREADY TAKEN ITS TOLL. MAKE AMERICA GREAT AGAIN!!!