Everything Donald Trump said about stock market and refuses blame for US economy crash

Donald Trump held up stock market booms as a measure of his success during his first term but with Americans coming to terms with the growing prospect of a recession the US President has refused to take blame for economic collapse.

Global stock markets went into freefall after Mr Trump endeavoured to push on with crippling tariffs against US allies. Wall Street analysts panicked after the S&P 500, which tracks the performance of the largest companies in the US, fell 1.2 per cent this session, following a drop of 2.7 per cent on Monday.

The crash is being directly linked to Mr Trump’s imposing tariffs against America’s closest allies, such as Canada, the European Union and the UK. His global trade war sees 25 per cent tariffs being slapped on aluminium and steel amid erecting other crippling import taxes on a series of other goods.

His methods have been called into question by financial analysts, while some of America’ s wealthiest companies, such as Tesla, continue to see their value being wiped out. But the president has held firm to his tariff commitment, claiming they will be used to address trade imbalances between the US and its closest partners.

During his first term Mr Trump spoke bullishly of the stock market, which saw considerable booms. But as the same market stalls under his second watch the Republican leader has downplayed his interest in Wall Street fluctuations.

Here is everything Mr Trump has said about the stock market in recent years.

Truth Social post on January 29, 2024

“This is the Trump stock market because my polls against [then president Joe] Biden are so good that investors are projecting that I will win, and that will drive the market up – everything else is terrible (watch the Middle East), and record setting inflation has already taken its toll. Make America Great Again.”

Truth Social post on March 12, 2024

“High Interest Rates and Inflation are choking our great middle class, and ALL, our Economy is bad, and our Stock Market is rising only because Polls are strongly indicating that we will WIN the Presidential Election of 2024.”

Truth Social post on July 16, 2024

“Dow Jones UP 742 based on the fact that the Market expects a TRUMP WIN in November! Nice compliment — Thank you!”

Truth Social post on August 14, 2024

“If [then Vice President Kamala] Harris wins this election, the result will be a Kamala economic crash, a 1929-style depression. 1929. When I win the election, we will immediately begin a brand new Trump economic boom. It’ll be a boom. We’re going to turn this country around so fast. Many people say that they only reason the stock market is up is because people think I am going to win.”

At a Mar-a-Lago gala in Florida on November 14, 2024, following the election

“We had three or four of the highest – I guess, almost every single day, we set new records in the stock market. We set new records economically.”

Speaking at an investment conference in Florida on February 19

“I think the stock market is going to be great. In other words, we will rapidly grow our economy by dramatically shrinking the federal government.”

Speaking to joint session of Congress on March 4

“Tariffs are about making America rich again and making America great again, and it’s happening and it will happen rather quickly. There’ll be a little disturbance, but we’re OK with that. It won’t be much.”

March 9 interview with Fox News following stock market uncertainty

When asked if he was expecting a recession, Mr Trump said: “I hate to predict things like that. There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing.” He continued: “It takes a little time. It takes a little time. But I think it should be great for us.”

March 9 response to journalists on Air Force One

After his hesitation to rule out a recession, Mr Trump was pressed again on the question. He said: “I tell you what, of course you hesitate. Who knows? All I know is this: We’re going to take in hundreds of billions of dollars in tariffs, and we’re going to become so rich you’re not going to know where to spend all that money. I’m telling you, you just watch.”

March 11 answers to White House reporters

Mr Trump was once again quizzed about the stock market tumble on Tuesday. “Markets are going to go up and they’re going to go down. We have to rebuild our country,” he said.

He continued: “Biden gave us a horrible economy. He gave us horrible inflation. And I think the market was going to go very, very bad. If anything, I have a lot of very smart people, friends of mine, and great businessmen. They’re not investing because of what I’ve done.”