Trump's Speech Bragging About Tax Cuts Smacks Into a Nosediving Stock Market

President Donald Trump delivers remarks on tax reform at Sheffer Corporation in Blue Ash Ohio

President Donald Trump delivers remarks on tax reform at Sheffer Corporation in Blue Ash Ohio

Trump posted the tweet with a video of himself speaking at an OH manufacturing company, suggesting his policies had galvanised the USA economy. "And right now, for the first time in a long time.factories are coming back, everything's coming back".

Weeks after the president claimed credit for "unprecedented success" with a "record stock market", the Dow Jones fell almost 1,600 points, erasing its gains for the year and marking the largest points plunge in the history, according to CNN Money. Until now, Trump's had kind of a free ride in this market and taken so much credit for it, even though so much of it was due to easy-money policies from Janet Yellen and the Fed.

The volatility followed a steep sell-off Monday in which the Dow lost 1,1754 points or 4.6 percent, erasing all of the gains of 2018.

"The president's focus is on our long-term economic fundamentals, which remain exceptionally strong", said White House spokeswoman Sarah Sanders.

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With stock markets declining again, the White House on Monday said the fundamentals of the US economy are "strong".

"The president's tax cuts and regulatory reforms will further enhance the United States economy and continue to increase prosperity for the American people", said Sanders.

"Where were they when it was going up?" "Before the ink was dry, companies were announcing thousands and thousands of new jobs and enormous investments to their workers", Trump said, before touting investment figures by major companies.

Donald Trump has tweeted that America is "open for business" and spoken of the country's successful economy, despite the stock market tanking.

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