Charles Esther
Earlier this week, President Donald Trump quickly assigned blame for a brief downturn in the stock market.
Using his platform on Truth Social, he posted on Wednesday morning—his 101st day in office—saying, “This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th.”
Trump’s statement came amid negative headlines and volatile market activity.
It was a defensive move aimed at shifting responsibility for the weak market performance that coincided with the early days of his administration.
Wall Street Rallies Just Days Later
Despite Trump’s criticisms, Wall Street turned around impressively by the end of the week.
The S&P 500 erased its previous losses and surged to levels not seen since November 2004.
This was a time when Trump himself was still a registered Democrat.
Meanwhile, the Dow Jones Industrial Average jumped more than 560 points.
This sharp rise was driven by a strong jobs report and robust earnings from tech giants like Meta and Microsoft.
Economic Gains Not Tied to Trump
While the market rebounded, many economists noted that the recovery wasn’t linked to any of Trump’s actions.
Instead, it reflected overall economic strength and renewed investor confidence in the tech sector.
Before Trump’s tariffs rattled markets earlier in the week, the economy was already on stable footing.
Experts also increased the chances of a recession after the tariff announcement, showing how fragile investor sentiment can be.
Record Lows During Trump’s First 100 Days
Trump recently celebrated his first 100 days back in office, but the occasion came with grim statistics.
The S&P 500 and Dow Jones experienced their worst 100-day performance under any president since Richard Nixon.
Rather than owning the slump, Trump continued to argue that it was Biden’s fault.
He told reporters that even if the GDP dropped again in the second quarter, Biden would still be to blame.
In his words, this was Trump’s White House—but still Biden’s economy.
Critics Fire Back
Some of Trump’s staunchest supporters didn’t agree with his excuses.
Barstool Sports founder Dave Portnoy wrote on X, “What’s that old expression? Don’t piss down my back and tell me it’s raining? Well that applies here.”
He added that the stock market reflects Trump’s first 100 days in office—nothing more, nothing less.
Challenges Ahead for Trump
Even if Trump now tries to take credit for the market’s rebound, his critics say it won’t be convincing.
The next few months may prove even more challenging.
New tariffs are expected this weekend, supply chain disruptions may loom, and the 90-day economic pause ends in July.
While Trump dubbed it “Biden’s Stock Market”, the credit—or blame—for future shifts will rest more clearly on his own policies moving forward.
Conclusion
President Trump may have tried to distance himself from early market struggles by blaming Biden.
But with Wall Street rebounding just days later, and economists pointing to external factors, his claims have lost ground.
Going forward, it will be increasingly difficult for Trump to shift responsibility—whether things improve or decline.
