According to Donald Trump, declining US stocks provides an excellent opportunity for purchases to investors, although many analysts blame its policy for one of the reasons for the downturn.
"Our companies are among the strongest in the world and they are doing very well". - Trump told White House reporters on Tuesday. "That's why I think they give you the incredible opportunity to buy, really."
US stocks continued their falling for months and on Christmas Eve. Falling prices dragged the S & P500 index to its lowest level in 20 months. The president sees the stock market as a barometer of his policy, with the downturns in the markets puzzling him.
He even came up with the idea of sacking FED chairman Jerome Powell for his monetary policy. It is precisely because of the move that the FED has taken for a gradual raise, that Trump and his supporters blame Powell for the sell-off that has swept the markets. The latest series of sell-offs has come as a result of the negative events of the chaos in the White House administration and the suspension of the US government.
Mnuchin was the man who raised Powell's nomination for FED president. This leads to speculation that Trump's anger will now be directed at the US Treasury Secretary, which Trump might release from office much easier. But on Tuesday, Trump said he still trusted Mnuchin and described him as "very talented."
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
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