The Dow Jones Industrial Average plunged nearly 800 points on Tuesday amid uncertainty over the future of trade relations between the United States and China.
The markets bottomed out at -818 points before nudging slightly upward to close down 799 points.
Bryan Tyler Cohen of Occupy Democrats pointed out on Twitter that Tuesday’s point drop was the fourth-largest in US history and that the top three occurred under President Donald Trump’s watch.
“The Dow just plummeted 799.36 points, the 4th biggest one-day drop in US history,” wrote Cohen. “The top 3? All took place during the Trump administration. He promised he’d run the country like he ran his businesses. Turns out he was right.”
The Dow just plummeted 799.36 points, the 4th biggest one-day drop in US history.
The top 3? All took place during the Trump administration.
He promised he'd run the country like he ran his businesses. Turns out he was right. pic.twitter.com/YboHRuP720
— Brian Tyler Cohen (@briantylercohen) December 4, 2018
One person noticed a common thread throughout all of the biggest drops.
All 10 were during Republican presidencies.
— J R O'Hara (@J_R_OHARA) December 4, 2018
And in fact, of the biggest ten, six happened under Trump.
Most recently in October, stocks tumbled more than 830 points. In February, markets tanked more than 1,000 points – twice – in only three days.
Few are surprised that economic confidence is beginning to struggle under Trump, a real estate princelet from Queens who filed for bankruptcy six times.
He did run it… Right into the ground.
— ChubbyBunny 🎶📚☮💞 (@moonchild62) December 4, 2018
The 2008 housing crisis is going to look like peanuts compared to the recession that’s impending.
— Democracy Dies in Darkness (@amethystarlight) December 4, 2018
Yep just like his businesses. Unfortunately for us we’re the employees and debt holders. How can anyone stay blind to this?
— Stephanie🧙🏻♀️🌊 (@sadetherage) December 4, 2018
Trump is killing our markets, economy, the future. Tariffs, trickle down, increased deficits and lying to the American people has never worked.
— David Schurman (@DSchurman68) December 4, 2018
Proving he as absolutely no idea what he is doing .. #WorstPresidentEver
— John H (@johnrhickman) December 4, 2018
Tuesday’s losses are largely attributed to Trump’s cavalier distortion of trade relations with China. Trump met with Chinese President Xi Jinping at the G20 summit in Argentina last Saturday.