As the Dow Jones Industrial Average’s losses snowballed on Wednesday, President Donald Trump scrambled to identify a scapegoat.
Today’s stock market antagonist? Congressional Democrats and their “impeachment nonsense.”
Dow’s October Massacre Accelerates on Wednesday
Trump made the revelation on Twitter, as the Dow spiraled toward a 500-point meltdown and the S&P 500 cratered below its 100-day moving average (DMA).
At last check, the Dow Jones Industrial Average had plummeted 485.01 points or 1.83%, reducing the DJIA to 26,088.03. At its session low, the Dow came within 35.18 points of breaching the 26,000 level.
In his tweet, Trump railed against impeachment-minded Democrats, accusing them of purposely hurting the country and driving the stock market down to hinder his reelection chances in 2020.
“All of this impeachment nonsense, which is going nowhere, is driving the Stock Market, and your 401K’s, down. But that is exactly what the Democrats want to do,” Trump seethed. “They are willing to hurt the Country, with only the 2020 Election in mind!”
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Author: Josiah Wilmoth