search
Sections List
American Journal News

Trump said the stock market would 'crash' if Biden was elected. It's now setting records.

Both the Dow Jones Industrial Average and the S&P 500 have broken records since Joe Biden took office.

By Emily Singer - April 02, 2021
Share
President Joe Biden

Donald Trump often said ahead of the 2020 election that if Joe Biden were elected, gains in the stock market would be destroyed.

“If he is elected, the stock market will crash,” Trump said in a presidential debate on Oct. 22, 2020, one of the dozens of times he made the claim during the campaign, according to transcripts gathered by Factbase.

Yet 72 days into Biden’s first term as president, the stock market has not only gone up, but it’s set multiple records, including on Thursday, when the S&P 500 surpassed 4,000 for the first time in history.

The Dow Jones Industrial Average has also broken records multiple times since Biden was elected, beginning with the day Biden was sworn in. Since then, the Dow has surpassed 33,000 for the first time in history.

CNN reported in January that since Biden was elected in November, the stock market has had the “best post-election market performance for a new president in modern history.”

The latest stock market surge follows the announcement of Biden’s new infrastructure plan, which could be behind the record stock market performance. Biden’s $2 trillion infrastructure plan would modernize the country’s roads, bridges, and airports, as well as focus on modernizing infrastructure to help battle climate change.

The stock market news also comes as the vaccine rollout accelerates, and after Biden successfully pushed through a coronavirus relief package in March to help aid the economic recovery effort — without a single Republican vote in the House or Senate.

Experts predicted the relief package would bring “an almost immediate boost to the U.S. economy,” the New York Times reported, with $1,400 checks and a $300 weekly increase to unemployment insurance likely to increase consumer spending as parts of the economy most hard-hit by the virus, including hospitality and tourism, began to show signs of life again with increased vaccinations.

On Friday, those predictions were bolstered when the Department of Labor announced that employers created a massive 916,000 jobs in March, including more than 200,000 jobs at restaurants, bars, and hotels. That’s even more than the 675,000 jobs predicted in a survey done by Dow Jones last month, according to CNBC.

Stock market futures continued to rise Friday morning.

Published with permission of The American Independent Foundation.

 


AJ News
Subscribe to our newsletter.
Read More
AJ News
Latest
Megadonor embroiled in ethics scandal gave thousands to Winsome Earle-Sears

Megadonor embroiled in ethics scandal gave thousands to Winsome Earle-Sears

By Jesse Valentine - April 21, 2025
“I Was Terrified To Get Pregnant Again After Having to Flee Tennessee for a Life-Saving Abortion”

“I Was Terrified To Get Pregnant Again After Having to Flee Tennessee for a Life-Saving Abortion”

By Bonnie Fuller - April 21, 2025
Goldman Sachs: Trump’s tariffs will lead to job losses

Goldman Sachs: Trump’s tariffs will lead to job losses

By Jesse Valentine - April 17, 2025
Democrats take stand for wrongly deported Maryland man

Democrats take stand for wrongly deported Maryland man

By Jesse Valentine - April 16, 2025
North Carolina law would make it illegal for Democratic AG to sue Trump

North Carolina law would make it illegal for Democratic AG to sue Trump

By Jesse Valentine - April 11, 2025
Older Americans suffer under Republican slash and burn policies

Older Americans suffer under Republican slash and burn policies

By Jesse Valentine - April 09, 2025
Scott Brown got Trump’s tariff plans for New Zealand very wrong

Scott Brown got Trump’s tariff plans for New Zealand very wrong

By Jesse Valentine - April 08, 2025
Trump admin canceled Social Security contracts to punish Maine governor

Trump admin canceled Social Security contracts to punish Maine governor

By Jesse Valentine - April 03, 2025
Senate Republicans vote to eliminate cap on overdraft fees

Senate Republicans vote to eliminate cap on overdraft fees

By Jesse Valentine - April 03, 2025
Forced to carry a dying baby, this Texas mother of four says she didn’t think it could happen to her

Forced to carry a dying baby, this Texas mother of four says she didn’t think it could happen to her

By Bonnie Fuller - March 28, 2025
Despite pleas from women and doctors, Texas may implement even more abortion restrictions

Despite pleas from women and doctors, Texas may implement even more abortion restrictions

By Bonnie Fuller - March 28, 2025
Trump’s antiwar claims don’t hold up in leaked group chat

Trump’s antiwar claims don’t hold up in leaked group chat

By Jesse Valentine - March 28, 2025
Frontline Republican governors cheer on Department of Ed closure

Frontline Republican governors cheer on Department of Ed closure

By Jesse Valentine - March 26, 2025
GOP-led legislatures ramp up abortion restrictions

GOP-led legislatures ramp up abortion restrictions

By Jesse Valentine - March 18, 2025
HHS slashes vaccine research, amplifies misinformation

HHS slashes vaccine research, amplifies misinformation

By Jesse Valentine - March 11, 2025
Senate Republicans scrap consumer protections for payment apps

Senate Republicans scrap consumer protections for payment apps

By Jesse Valentine - March 10, 2025
Rep. Don Bacon admits he voted for Medicaid cuts

Rep. Don Bacon admits he voted for Medicaid cuts

By - February 28, 2025
Trump admin cracks down on affordable weight-loss treatments

Trump admin cracks down on affordable weight-loss treatments

By Jesse Valentine - February 27, 2025
Republican lawmakers are lying about Medicaid fraud

Republican lawmakers are lying about Medicaid fraud

By Jesse Valentine - February 26, 2025
Trump’s education pick: schools may lose funds for teaching Black history

Trump’s education pick: schools may lose funds for teaching Black history

By Jesse Valentine - February 13, 2025
JD Vance defends DOGE staffer who promoted eugenics 

JD Vance defends DOGE staffer who promoted eugenics 

By Jesse Valentine - February 10, 2025
Texas’ abortion ban has OB-GYNs working in an environment of ‘extreme fear’

Texas’ abortion ban has OB-GYNs working in an environment of ‘extreme fear’

By Bonnie Fuller - February 04, 2025