President Donald Trump touted the strong stock market performance since he took office.
Detractors may point to the Dow Jones industrial average’s recent stumbles, but the benchmark index has much further to fall before Trump’s post-inauguration gains are gone.
“I think the stock market is gonna be great. The stock market is way up. When I came into office the stock market was from a different planet. It’s way up,” Trump said at a news conference Friday. “China is gonna end up treating us fairly.”
The Dow dropped 724 points Thursday after Trump signed an executive memorandum that would impose tariffs on up to $60 billion in Chinese imports.
From its high on Jan. 26 at 26,616.71, the benchmark index has declined more than 2,600 points or nearly 10 percent through Thursday’s close at 23,957.89.
Trump still has a big cushion. The Dow closed at 19,827.25 on Inauguration Day, Jan. 20, 2017, which means it has about 4,100 points to go before the Trump rally gains disappear.
