“When it comes to the stock market, President Trump is in a box of his own making,” commentator Helaine Olen states in the Washington Post. “He repeatedly took credit for 2017’s stock market gains, with the S&P 500 delivering a nearly 22 percent return. ‘Stock Market at new all-time high! Working on new trade deals that will be great for U.S. and its workers!’ went a typical tweet, this one on July 15 of last year. ‘Highest Stock Market EVER,’ he declared a few days later. I predicted this would not end well for Trump. “Should the American economy or stock market hit a rough patch, Trump will get stuck holding the bag,” I wrote late last fall.
“And so it has come to pass. The stock market fell dramatically on Tuesday, with the Dow Jones industrial average diving almost 800 points, more than 3 percent. While predicting what causes gyrations in the stock market is not exactly a science, most observers think this culprit is obvious: Trump’s erratic, belligerent talk about trade and China could trigger both a trade war and a recession in the United States.
“Trump has been talking tough on the subject for months, adding tariffs to a host of goods. China, naturally, retaliated. But Trump became more conciliatory this past weekend, apparently coming to an agreement with Chinese President Xi Jinping to pause all future tariff increases for 90 days while the countries attempt to settle the dispute.”
The complete article is here.