After one of the stock markets reached an unprecedented high, Democrat President Joe Biden seized on that bit of good news and boasted on social media about the supposed success of his “Bidenomics” policies.
However, just a few days later, those historic gains and then some had vanished as all of the major stock markets took a precipitous tumble.
The markets fell in the immediate wake of a less-than-stellar economics and inflation report for the month of January, Yahoo! Finance reported.
The stunning turnabout seemed to at least partially vindicate President Donald Trump’s prediction a month earlier.
Trump warned that Biden’s inflation-plagued economy was “fragile” and due for an imminent “crash.”
On Saturday, President Biden’s social media team shared a Friday report from NBC News about how the S&P 500, after five straight weeks of gains, had closed above the 5,000 mark for the first time in its history.
The X post from Biden stated, “Good news for folks as we start the weekend.
“The stock market going strong is a sign of confidence in America’s economy.”
However, Yahoo! Finance reported Tuesday that all three of the major stock market indices had fallen by more than 1% each, with