Trump: “Stock Market Lost $3 Trillion After Election” ... Was It Because Democrats Won?

[Financial News] U.S. President Donald Trump said the United States “lost $3 trillion (about 4,070 trillion won) because of the election,” referring to the sharp drop in U.S. stocks after the midterm elections. On the Republican defeat, he distanced himself from calls to hold him responsible, saying, “I wasn’t on the ballot.”
Speaking at the UP.Summit aerospace technology event at Kennedy Space Center in Florida on the 6th (local time), President Trump said, “$3 trillion disappeared yesterday,” adding, “I would have been more upset if we had made $3 trillion.” He interpreted the market’s decline after Republicans lost the election as a negative reaction to the Democrats’ victory.
He added, “Just in case you’re wondering, I didn’t run in this election. If I had been on the ballot, I would have won.”
As the midterm elections ended with Democrats taking control of majorities in both the House and Senate, the Nasdaq 100 recorded its biggest one-day drop since 2020 on the 5th.
President Trump touted employment figures as evidence of his economic performance. Referring to the October employment report released that day, he said, “We posted remarkable employment numbers,” and claimed the increase in manufacturing jobs was “the largest in decades.” According to the U.S. Department of Labor, nonfarm payrolls rose by 165,000 in October, far exceeding market expectations of around 65,000. Manufacturing jobs also increased by 19,000.
He emphasized that the United States was ahead in the race for artificial intelligence (AI). “Whoever wins, the side that gets superintelligence wins,” he said. “Under the Trump administration, the winner will always be America, and we’re ahead right now.” He added, “I discussed this issue with Chinese President Xi Jinping at the White House three weeks ago,” saying, “He’s giving it his all and congratulated us on doing well.”
He reiterated that Iran would not be allowed to possess nuclear weapons. “If we hadn’t sent a B-2 bomber a little over a year ago, Israel would have disappeared from the face of the earth,” he said. “Iran will never have nuclear weapons.”
President Trump also praised Republicans who won in this election. Congratulating Congressman Byron Donalds on his election as governor of Florida, he said, “He won the hard way, by working hard.”
The speech came just hours after President Trump announced that he would appoint Deputy Chief of Staff Stephen Miller to succeed White House Chief of Staff Susie Wiles.
[email protected] Lee Hyun-jung Reporter