Trump says Dow Jones Industrial Average would be down 10,000 points if this happened

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February 19, 2019 4:45pm INDEXDJX:.DJI NYSE:DIA

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From Mark DeCambre: President Donald Trump on Tuesday tweeted that the stock market would effectively have crashed had he lost the 2016 race for the White House, reiterating a number of similar statements he has made that have assigned credit to his administration for buoying financial markets over the past two-plus years.

Trump didn’t specify which benchmark he was referencing but, the 45th president was likely referring to the Dow Jones Industrial Average DJIA, +0.03% which has gained 42%, or more than 7,600 points, since the day before his stunning victory over Democrat Hillary Clinton on Nov. 8, 2016. (A 10,000-point fall in the Dow would have taken the blue-chip gauge to 8,259, representing a 55% tumble.)

Meanwhile, the S&P 500 SPX, +0.15%  has climbed 30.2% and the technology-heavy Nasdaq Composite Index COMP, +0.19%  has advanced by roughly 45% over the same period, according to FactSet data. Based on the first 833 days in office, the range currently encapsulated Trump’s current tenure, the president’s stock-market performance would place him at the best percentage return since President William Clinton’s second term in office, where the market gained 53% over that 833-day span, according to Dow Jones Market Data.

MarketWatch’s Trump Scoreboard puts both the market and the economy in perspective. See Trump Scoreboard methodology.

Perhaps more than any other president, Trump has hitched his success to that of the stock market.

He has signed into law a late-2017 corporate tax cut that delivered a fillip to U.S. stocks. However, Trump is dogged by an investigation into whether his presidential campaign colluded with Russia and his hard-charging tactic in negotiations with China on tariffs has helped to roil markets, even if there is hope that the testy discussions lead to a fairer trade pact between the two largest economies in the world. It’s worth noting, perhaps, that Democrat Clinton was impeached by the House in the 1998 but acquitted by the Senate, but that had little impact on blunting the markets’ gains.

The SPDR Dow Jones Industrial Average ETF (DIA) was trading at $258.81 per share on Tuesday afternoon, up $0.16 (+0.06%). Year-to-date, DIA has gained 5.49%, versus a 4.54% rise in the benchmark S&P 500 index during the same period.

DIA currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #4 of 82 ETFs in the Large Cap Value ETFs category.

This article is brought to you courtesy of MarketWatch.

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