Charted: Stock market performance under Trump 2.0
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The S&P 500 has fallen more than 15% since Donald Trump's inauguration, the worst showing for a new administration since George W. Bush was in office during the dot-com bust.
Why it matters: Trump usually touts stock market performance as an indicator of his success, and in his first term as president, he backed off on policies that sparked market sell-offs.
- But not this time around Trump has so far doubled down on his tariff moves, even as the market has sunk.
By the numbers: Since there was a break between Trump's first stint in the White House and his current one, Axios compared the S&P 500 at the start of Trump 2.0 to other presidents in their first terms in office, including Trump 1.0.
- The market rose a bit during Trump's first time in the Oval Office, rising 4.1%, from inauguration day through April 7.
- It was higher, rising 7.4%, for former President Biden.
Between the lines: When Biden was in office, Trump took credit for stock market gains, and blamed losses on the former president.
- "There are many people that are saying that the only reason the Stock Market is high is because I am leading in all of the Polls, and if I don't win, we will have a CRASH of similar proportions to 1929," he posted during the campaign in May 2024.
The bottom line: That's not quite how it has worked out, so far anyway.
