President Donald Trump attributed a volatile market to former President Biden, stating it was “Biden’s Stock Market” during a post on Truth Social. However, just days later, the S&P 500 erased its losses since Trump’s ‘Liberation Day’ tariffs, reaching its best performance since November 2004. The Dow Jones Industrial Average also saw an increase of over 560 points. This rebound was largely due to a better-than-expected jobs report and strong earnings from Meta and Microsoft, which renewed faith in the tech sector. Economists noted that the economy was in a good place before Trump’s tariffs increased recession fears. Some of Trump’s allies criticized his claims, pointing out that the stock market reflects his first 100 days in office. If Trump attempts to claim credit for the rebound, it may seem insincere given his prior statements.
— new from Business Insider
