U.S. President Donald Trump is displayed on a tv display screen as merchants work on the ground of the New York Inventory Trade (NYSE) on April 7, 2025 in New York Metropolis.
Spencer Platt | Getty Pictures
President Donald Trump‘s first 100 days in workplace are the worst for the inventory marketplace for the beginning of a president’s four-year time period for the reason that Seventies.
The S&P 500’s 7.9% drop from when Trump was sworn into workplace on Jan. 20 by way of the April 25 shut, is the second worst first 100-day efficiency going again to the start of President Richard Nixon’s second time period, in line with CFRA Analysis. Nixon noticed the S&P 500 tumble 9.9% in 1973, after a collection of financial measures he took to fight inflation resulted within the 1973 to 1975 recession. Nixon would later resign in 1974 due to the Watergate scandal.
On common, the S&P 500 rises 2.1% within the first 100 days for any president, in knowledge of postelection years going from 1944 by way of 2020, CFRA confirmed.
The severity of the inventory drawdown to start out Trump’s presidency stands in marked distinction to the preliminary euphoria following his November election victory, when the S&P 500 surged to all-time highs amid confidence the previous businessman would result in a lot hoped for tax cuts and deregulation. From Election Day to Inauguration Day, the S&P 500 superior 3.7%, CFRA knowledge exhibits.
The rally sputtered after which dove sharply as Trump used his early days in workplace to push forth different marketing campaign guarantees that traders had taken much less significantly, notably an aggressive strategy to commerce that many fear will elevate inflation and push the U.S. right into a recession.
In April, the S&P 500 took a nosedive, dropping 10% in simply two days and briefly getting into bear market territory, following Trump’s “reciprocal” tariff announcement. Trump then walked again a part of that announcement, giving international locations a 90-day pause to renegotiate offers, that soothed a few of traders’ issues. Many fear there’s additional draw back forward.
“Everybody’s searching for this backside right here,” stated Jeffrey Hirsch, editor of the Inventory Dealer’s Almanac. “I am nonetheless considering it is a bear market rally, a near-term bounce form of factor. I am not satisfied we’re out of the woods but, with the dearth of readability and persevering with uncertainty in Washington.”
S&P 500 since Jan. 17 shut
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