Manuel Balce Ceneta/Associated Press
WASHINGTON - President Donald Trump on Wednesday weighed in for the first time on wild gyrations in the stock market over the past two weeks, writing on Twitter that the 8 percent plummet over five days amounted to a ‘‘big mistake’’ by investors.
He suggested that the sharp sell-off, particularly on Friday and Monday, came from concerns that the economy was going so well it would lead the Federal Reserve to raise interest rates, putting pressure on future borrowing and growth.
The stock market has risen markedly since the end of the financial crisis in 2009, though it has picked up precipitously since Trump was elected in November 2016. Trump has often sought to tie the stock market’s success to his economic agenda of lowering taxes and stripping away regulations. There are signs that wages are beginning to increase at a higher rate, and job gains have been mostly steady in the past several years.
But there are growing concerns about inflation, and the Federal Reserve is expected to continue raising interest rates, moves that would likely impact investor appetite for stocks. The federal government is also adding hundreds of billions of dollars in debt each year, another factor that is fueling investor concerns.
During the 2016 campaign, Trump called the stock market increase under President Barack Obama a ‘‘big, fat, ugly bubble.’’
It’s unclear whether the stock market volatility from the past two weeks will continue or smooth out, but the White House is hoping a strong economic picture will help Republicans in the November midterms.
An 89-year-old Cambridge woman was terminated from the service after a minor mishap in a parking garage.Continue reading »
The decline marked a break in the recent stretch of tranquility exhibited by the notoriously volatile digital alternative to cash.Continue reading »
While there are plenty of smart and reasonable people who will never see it otherwise, let's consider the reasons why New York and the D.C. suburbs beat out more than 200 other bids.Continue reading »
The toll that the opioid epidemic is taking on the Massachusetts economy now has a cost in dollars.Continue reading »
Amazon on Tuesday confirmed that it will split its second headquarters between the Washington, D.C., region and New York City.Continue reading »
The Boston-based bank has managed dozens of life sciences initial public offerings and helped arrange financing rounds for venture-backed companies.Continue reading »
Being an also-ran might be what’s best for the region, but housing and transportation issues remain.Continue reading »
The largest venture firms are raising increasingly large caches to compete for stakes in highly valued startups.Continue reading »
State officials and real estate brokers have a ready-made list of properties that community leaders are eager to see developed.Continue reading »