The stock market during President Donald Trump’s first 100 days back in office marked the second-largest decline in the last 80 years — and it may have cost average Americans thousands.
From Trump’s inauguration on January 20 through April 25, the S&P declined by 7.9 percent, data from CFRA Research, obtained by CNBC, shows. That slide has only been topped in recent history by Richard Nixon’s second term in 1973, when the S&P dropped 9.9 percent in the same period.
The stock market’s fluctuations could have already had a substantial impact on Americans’ wallets.
If someone had invested $100,000 in the S&P in January, hypothetically, by the end of April, they would only have $92,000. Of course, many people have a wide portfolio of investments.
A Washington Post columnist dared to check her 401k on Wednesday, only to discover that it was in “negative territory.” Her retirement portfolio had been up 3 percent in January before Trump took office, she wrote.
Massachusetts Senator and Democrat Elizabeth Warren slammed Trump’s handling of the economy, noting how it affects Americans. She said during a press call Tuesday: “He took an improving economy and broke it in 100 days. The president started the dumbest trade war in history, single-handedly crashing equity markets and sinking retirement accounts.”
Trump’s 100-day stock market performance includes the record-breaking turbulence from earlier this month.
On April 3 — one day after “Liberation Day” in which the president unveiled his sweeping tariff policy — Wall Street suffered a historically bad day, with the NASDAQ dropping 1,050 points, breaking a record for the largest single-day point drop.
One week later, on April 9, the markets surged with both the Dow Jones and the NASDAQ breaking records for the largest point gains in a single day after Trump announced a pause on most of these levies. That pause spans 90 days.
On mid-day Wednesday, during his 101st day in office, the Dow finished up 141 points, and the S&P finished up 8 points. However, the S&P was done again, dropping nearly 15 points on the day.
Still, some experts fear that the threat is not yet over.
“Everyone’s looking for this bottom here,” Jeffrey Hirsch, editor of the Stock Trader’s Almanac, told CNBC. “I’m still thinking it’s a bear market rally, a near-term bounce kind of thing. I’m not convinced we’re out of the woods yet, with the lack of clarity and continuing uncertainty in Washington.”
Posting on Truth Social Wednesday, Trump blamed his predecessor for the stock market.
“This is Biden’s Stock Market, not Trump’s,” he wrote. “I didn’t take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers.”
