Trump blames Democrats after stock market plummets: ‘You only have yourselves to blame’

President Donald Trump blamed Democrats’ sweeping victories in the midterm elections for the sudden stock-market drop on Thursday night.

On Thursday, the S&P 500 fell 4.4%, its worst day since Trump stunned markets worldwide in April 2025 with his “Liberation Day” tariffs. The Dow Jones Industrial Average sank 1,833 points, or 3.4%, while the Nasdaq composite tumbled 5.5%.

Trump was quick to blame Americans who voted for Democrats for the sharp decline in the stock market.

“The Stock Market suffered one of the Worst Days in History based on the results of the Election. Such a sad thing to watch! It took so much work to get us to a level that no one has ever seen before, and then this,” Trump wrote on Truth Social.

“Your 401(k)s have, therefore, dropped. Remember, it wasn’t Republicans, it was Dumocrats. Do not fear, however, we will soon, one way or the other, be BIGGER AND STRONGER THAN EVER BEFORE,” he added.

In a separate post, he wrote: “The Stock Market crashed today because the Dumocrats had a big Tuesday — So sad to see, you only have yourselves to blame!”

Analysts attributed the drop to uneasiness about the future of artificial intelligence under a Democratic-controlled Congress set to take over next year. Many Democrats and some Republicans have expressed concerns about AI and the construction of data centers across the country.

Any regulation of AI or data centers could result in fewer purchases of AI chips, The Associated Press reported. Trump has been a fervent supporter of AI and of data centers — a topic that is widely unpopular with Americans.

While Trump was quick to blame Democrats for the plummeting stocks, he took credit for the huge boost in the stock market just one day prior. The stock market saw its best day in three months on the day following the election.

“Stock Market just hit another Record High — 91 Days in just a short period of time — Less than two years. Your 401(k)s are through the roof. Record Setting All!” Trump posted on Wednesday.

The Associated Press contributed to this report.