President Donald Trump called the midterm election results a “gigantic setback in history” and blamed them for a $3 trillion one-day stock market loss. (Foto: Instagram)
President Donald Trump said Sunday, Nov. 8, that the results of the U.S. midterm elections amounted to a “gigantic setback in history.” In a post on Truth Social, he also blamed the election outcome for declines in U.S. stock markets.
“The United States has suffered a gigantic setback in history with the results of the last election—even the stock market, which had been soaring under the Trump administration, lost $3 trillion in a single day,” Trump wrote. He added: “But don’t be afraid: We will be back, bigger and stronger than ever.” The $3 trillion figure was part of Trump’s statement.
The midterm results confirmed the Democratic Party’s majorities in both the Senate and the House of Representatives. The outcome was described as a historic defeat for Trump, a Republican.
Global markets were also affected the previous week by a sharp decline in technology stocks, following a session of substantial losses on Wall Street. Investors are concerned that investments in artificial intelligence may not produce the expected returns, or may take longer than anticipated to reward them.
