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Home / Business / Trump describes the market crash in December as a "breakdown" and expects a rebound in trading

Trump describes the market crash in December as a "breakdown" and expects a rebound in trading



President Trump said Wednesday that the weak performance of the US stock market in December was a "glitch" that would correct itself as soon as its government concluded important trade agreements with China and other nations.

"We had a small stock market crash last month," Trump told reporters at a White House cabinet meeting. He added that since his election in 2016, markets have still risen significantly. Stock markets plunged in December as concerns about global trade disputes and a partial government shutdown failed to materialize. The Dow Jones Industrial Average closed 5.6 percent in 201

8, while the S & P 500 fell 6.2 percent and the Nasdaq 4 percent. General stock market performance was at its worst level since the 2008 financial crisis.

Trump said markets need "some help from the Fed" to return to positive results. The President has collided with Fed Chairman Jerome Powell in recent weeks. He argued that the central bank's decision to stick to a rate hike plan has frightened investors and China also weighed on US markets in 2018. The US beat billions of dollars in tariffs on Chinese goods and triggered retaliatory measures from Beijing.

US. The markets were traded in a narrow range on Wednesday afternoon.


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