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President Donald Trump tried to quell fear in the markets on Friday after stocks plummeted.
The S&P and the Nasdaq had the worst days of the year, tumbling 2.6% and 4.2%, respectively. The downward moves came despite a May jobs report that exceeded economists’ expectations.
The U.S. added 172,000 jobs in May, beating projections of 85,000, as the unemployment rate remained at 4.3%.
“With a great Jobs Report, like just announced, stocks should go up, not down,” Trump wrote on Truth Social. “That’s the way it was for 200 years. Growth does not mean inflation! How else can a Country attain GREATNESS??? President DJT.”
The president’s post did nothing to reverse the stock slide. In fact, they slid further.
About four hours after markets closed, Trump took to his social media platform once again to talk about the stock market and declared, “IT’s RAINING JOBS”:
Despite the best efforts of the America Hating Dumocrat Party, which did its very best to DESTROY the U.S.A. during the four long years of the Autopen Administration, over 172,000 AMERICANS found Jobs in the month of May alone! As usual, 100 PERCENT of Bloomberg Economists (who appear to be entering the “Terminal” stages of Trump Derangement Syndrome) underestimated our Economy. UNLIKE the phony California Election results, these numbers don’t take months and months to “trickle in” (PASS THE SAVE AMERICA ACT!). They always say “April showers bring May flowers.” Well, here in the “HOTTEST” Country in the World, in both April AND May, IT’S RAINING JOBS! President DONALD J. TRUMP
Friday’s selloff was led by slides in semiconductor and AI companies.
In May, consumer sentiment fell for the third straight month as Americans continue to worry about inflation amid the ongoing closure of the Strait of Hormuz and Trump’s tariffs.
The post Trump Feverishly Tries To Reassure Markets After Stocks Plummet: ‘IT’S RAINING JOBS!’ first appeared on Mediaite.
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