Donald Trump took to Twitter and Instagram to forcefully comment on the stock market crisis that was prompted by the China-related Black Monday sell-off on Wall Street.
The stock market lost about 1,000 points today before rebounding at the close. The Dow index experienced a 588-point decline, the worst drop since four years ago this month.
“The slump is part of a global wave of selling triggered by increased signs of an economic slowdown in China,” AP reported. “Stocks regained much of that ground as the day wore on. But the slump — part of a global wave of selling triggered by the slowdown in China — reflected uncertainty among investors over where to put their money when the world’s second-largest economy is in a slide.”
American households with stock ownership may have lost an incredible $1.8 trillion just in the last few days, according to MarketWatch, as a result of the market dislocation.
Currently the 2016 GOP presidential front-runner, Trump has continually ranted against what he insists are stupid and incompetent U.S. government officials who are not up to the task when negotiating important and complex trade deals with their far more astute counterparts in China, Japan, Mexico, and other countries.
The real estate mogul and ex-reality show star has also accused China in particular of stealing American jobs and manipulating its currency to gain a stranglehold on world commerce.
“Trump has regularly pummeled China’s economy on the campaign stump, saying if elected, he would negotiate trade deals with that nation that would be more favorable to the U.S., to rebuild the American economy,” the New York Daily News explained.
The Donald issued the following blunt statement today on his Instagram account (see embedded footage below) about Black Monday.
“I’ve been telling everybody for a long time, China is taking our jobs and taking our money. Be careful, they’ll bring us down. You have to know what you’re doing. We have nobody that has a clue.”
Trump’s Twitter account also expressed similar themes about the Black Monday stock market crash.
In a report about Black Monday stock market crisis, CNN noted that “Global fears about China’s economic slowdown are shaking stock markets around the world for a second week in a row. The wave of selling knocked the S&P 500 into correction mode for the first time since 2011 and the Dow to its lowest close in a year and a half.”
[Photo by Jan Kruger/Getty Images News]