As Wall Street extended its deep sell-off Wednesday over fears about the coronavirus, the DJIA effectively erased the last of the sizeable gains it made under President Trump, 3 years to build, 1 month to tear down.
At Wednesday’s close, the DJIA was up just 0.4% from where it was on 20 January 2017, the day of President Trump’s Inauguration. The DJIA is still up almost 9% from when he unexpectedly won the Presidential election on 8 November 2016.
Measuring the stock market’s performance under the Republican President beginning at his election date captures a surge immediately after he won, dubbed the Trump Bump, as investors became optimistic about President Trump’s promises to cut taxes and reduce regulations which he did.
At its February peak, the DJIA had surged more than 60% from President Trump’s election day.
The S&P 500, a broader measure of the US stock market, fell 5.2% Wednesday, leaving it up 12% since President Trump’s 2016 election and up 6% from his Inauguration. At its peak, the S&P 500 gained 58% since President Trump’s election.
Overall, the S&P 500 has is off nearly 30% from its 19 February high and ended a Bull market that began on 9 March 2009.
Have a healthy day.
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