The Stock Market Index Is Now Lower Than When Trump Took Office
The stock market on Wednesday erased all the gains it had made since President Trump took office amid the ongoing economic fallout from the coronavirus epidemic.
The morning of Trump’s inauguration, the stock index opened at 19,795 and closed at 19,827. At its lowest point on Wednesday, it fell to 19,700.
While the market’s volatility means the Dow is likely to bounce in the coming days and weeks, its descent to levels not seen since before Trump took office carries symbolic weight.
Trump frequently touted the stock market’s rise as a sign of his successful stewardship of the economy. But his inept response to the coronavirus pandemic sent the markets into panic and the economy is now in a nosedive.
The White House is working on a plan to provide cash to every American as Congress works to shore up the social safety net for those sick and unemployed as a result of the pandemic.