Trump blames Democrats for stock market crash: ‘You owe it to yourself’

President Donald Trump has reacted fiercely to the huge price drops on Wall Street. According to him, the Democrats are responsible for Thursday's stock market crash, which lost trillions of dollars in market value.

Technology companies in particular were hit hard after the US midterm elections. Trump warns that the pension assets of millions of Americans have also been hit.

On his own social platform Truth Social, Trump responded Thursday night to the heavy losses in the US stock market.

According to the president, Wall Street experienced one of the worst stock market days in history. He lays the blame entirely on the Democrats, who scored a big victory in the midterm elections on Tuesday.

“So sad to see!” Trump wrote.

According to the president, his government has worked hard to bring the stock market to record highs. He now sees that progress being lost in a short time.

Trump also points out the consequences for US pension investors. Many Americans build up pension assets through a so-called 401(k), whereby money is invested in, among other things, shares.

Because the stock market prices have fallen sharply, the value of these pension investments has also come under pressure.

Trump stressed that according to him, it is not the Republicans, but the Democrats who are responsible for this. He again used the mocking nickname ‘Dumocrats’.

In a second message, he went one step further. According to Trump, the stock market crash is directly the result of the Democrats' election victory. He argued that voters are to blame for the consequences.

Trump's anger follows an exceptionally bad stock market day. The Nasdaq 100, in which large technology companies are heavily involved, lost 6.4 percent on Thursday. It was the largest decline since March 2020. In one trading day, about 2.3 trillion dollars of market value evaporated.

Especially chip companies and other companies that benefit from artificial intelligence were hit hard.

Investors fear that the Democrats will introduce stricter rules for the AI sector. This mainly concerns the construction of new data centers, which are becoming increasingly resistant due to the high energy and water consumption.

If those construction projects are delayed, it could hit the demand for AI chips and other equipment.

The Democrats have now won the majority in both the House of Representatives and the Senate. As a result, they can exert more influence on artificial intelligence policy.

The stock market crash comes at a painful time for Trump. The president regularly pointed to rising stock prices in recent years as evidence that his economic policies were working.

Especially the huge interest in AI helped the US stock market to new records.

Trump has also spoken out in favor of building more AI data centers. He wants to give the sector as much room as possible to grow and opposes strict restrictions.

The election results may complicate those plans.

It is striking that Trump gave another explanation for his party's election defeat on Wednesday. At that time, he mainly pointed to the high fuel prices, which have risen partly due to the war with Iran.

Although Trump holds the Democrats responsible for the stock market crash, concerns about the high valuations of technology companies and the huge investments in AI also play a role in the sales wave.