▲ U.S. President Donald Trump
U.S. President Donald Trump blamed the opposition Democratic Party for the steep plunge across Wall Street indices on the 5th (local time).
Posting on his social media platform Truth Social, Trump wrote, "The stock market experienced one of the worst days in history following the election results," adding, "It was truly sad to watch."
He continued, "It took a lot of work to reach levels that no one had ever seen, and it ended up like this. That is why your '401k' went down too," claiming, "Remember, this is the fault of the 'Dumocrats,' not the Republicans."
However, Trump stated, "Fear not, however. We will soon be bigger and stronger than ever, in one way or another."
The previous day, immediately following the midterm elections, Wall Street surged on political certainty following news that the Democratic Party had secured control of the federal legislature, alongside expectations for an early end to the war in Iran.
However, as concerns grew that the Democratic victory would lead to tighter regulations on the artificial intelligence (AI) industry, the three major Wall Street stock indexes plummeted in a single day, led by AI tech stocks.
Trump's attribution of the market crash to the Democrats is accepted as having some validity.
CNN pointed to Democrat Gina Hinojosa's victory in the Texas gubernatorial election as a key factor behind the market crash.
Texas has played a decisive role in accelerating AI development as major tech companies like Google, Meta, Oracle, and OpenAI have made massive investments in data centers.
However, during the election, Hinojosa pledged a temporary moratorium on data center construction and the repeal of specific tax benefits for companies building data centers.
※
Copying, redistribution, and unauthorized use in AI training are strictly prohibited.