‘Check the 5-year-chart’: MAGA defends Trump amid Dow Jones plummet
After the Dow Jones plummeted over 2000 points on Friday, two days after Donald Trump’s tariff announcement, several right-wing ‘MAGA’ commentators rushed to defend the president. ‘Look at the 5-year-chart’, one person wrote, suggesting American investors had gained long-term.
The 30-company index fell 2,231.07 points, or 5.5%, to 38,314.86 on Friday, the biggest decline since June 2020 (during the COVID pandemic). The index had tanked 1,679 points on Thursday. The S&P 500 tanked 5.97% to 5,074.08, the biggest decline since March 2020. The Nasdaq Composite dropped 5.8%, to 15,587.79.
Read More: Dow Jones drops more than 2200 points as selloff continues amid Donald Trump’s tariffs
MAGA defends Trump
Several Trump supporters rallied behind the president, posting photos of the Dow Jones’ five-year chart. American polling company Rasmussen Reports suggested that the Dow is much higher than it was five years ago, when former President Joe Biden came into power.
“Past five years the Dow Jones is up 65%, Nasdaq 93% and S & P 85%,” one person wrote on X, platform formerly known as Twitter.
“The Dow Jones Industrial average is +85% over the past 5 years,” another one claimed.
“The Dow of the last 5 years. Note the absolute slog that was 2022-23,” a third person tweeted.
Read More: Dow sinks 2000 points on Friday – List of biggest crashes in US history
Donald Trump reacts to stock market crash
After being asked about the stock market plummet, President Trump said: “The markets are going to boom, the stock is going to boom, the country is going to boom.”
“I think it’s going very well. We have an operation, like when a patient gets operated on, and it’s a big thing. I said this would exactly be the way it is,” he added, an apparent reference to the selloff.
The 78-year-old’s reaction came two days after he announced reciprocal tariffs, ranging from 10% to 49%. He levied a 26% tariff on India, 34% on China, 46% on Vietnam, and 10%on the UK. The European Union has been slapped with a 20% tariff.