The Atlantic

Trump Finally Comments on the Stock Slump—by Arguing With It

His words evince both an interest in the market and a lack of knowledge about its gyrations.
Source: Evan Vucci / AP

On Wednesday morning, President Donald Trump—chief executive of a $19 trillion economy, leader of the free world, commander of a nuclear military force—finally weighed in on the stock market’s sudden decline, by arguing with it. “In the ‘old days,’ when good news was reported, the Stock Market would go up,” he wrote on Twitter. “Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!”

There is at least one thing he is right about: The stock market is indeed in a slump. For the linked to market volatility, and headlines . Animal spirits, in the memorable phrasing of the economist John Maynard Keynes, are loose.

You're reading a preview, sign up to read more.

More from The Atlantic

The Atlantic9 min readPolitics
Don’t Use These Free Speech Arguments Ever Again
Most speech, hateful or not, is protected by the Constitution. To pretend otherwise is foolhardy.
The Atlantic3 min read
Ready or Not Is a Clever Horror Comedy About Entitled Rich People
The new film retells a classic story of bored aristocrats hunting humans—with a subversive twist.
The Atlantic3 min readPolitics
Emmanuel Macron Expounds as the World Burns
It was a perfect late summer evening when President Emmanuel Macron—tanned and super-energized in a dark blue suit and crisp white shirt—held forth before the Elysée press corps on matters of international import. Posh Paris was largely out of town.