Dow wipes out gains under Trump's presidency, still slightly positive since his election
Source: CNBC
President Donald Trump has long touted market gains under his administration as an endorsement of his economic policies and, on multiple occasions, boasted about the Dow Jones Industrial Average’s gains under his tenure. That was before he was blindsided by an invisible microbe.
With the coronavirus spreading economic mayhem across the globe, the Dow’s 1,500-point 7% drop on Wednesday pushed the 30-stock index below the level where it closed on Jan. 19, 2017, the day before Trump took office. The sell-off is part of a historic market meltdown that has wiped out years of gains in a matter of weeks.
The blue-chip index is still more than 800 points, or 4.4%, above where it closed on Nov. 8, 2016, when Trump won his improbable election. His victory fanned a surge of investor optimism in anticipation of his business-friendly policies.
The Dow was last at 19,084, more than 600 points below its close of 19,732.40 a day before Trump’s inauguration.
Read more: https://www.cnbc.com/2020/03/18/dow-wipes-out-gains-under-trumps-presidency-still-slightly-positive-since-his-election.html
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