Former President Donald Trump has once again claimed that the US stock market will crash if he does not win in the upcoming presidential election.
However, investors are not worried about his warning, with many just laughing at what the former president said at a campaign rally in South Carolina on Friday.
Donald Trump Predicts Stock Market Crash Again If He Doesn't Win, Making Investors Laugh
According to CNN Business, Donald Trump claimed that if voters do not vote for his return to the White House, then the stock market is doomed to crash.
"If we lose, you're gonna have a crash like you wouldn't believe," Trump said at Friday's campaign rally. The former president added that his election loss would spark "the largest stock market crash we've ever had" but did not provide evidence to support his claim.
Because of this, many investors and market veterans laughed off his remarks and dismissed them as "Trump just being Trump," CNN Business reported. They further noted that the 2024 election has had little role in booming the market.
"That's the Trump bluster that I just don't pay a lot of attention to... There's not going to be a huge selloff if Trump were to lose. Regardless of who wins, post-election you could see a rally - fueled by relief that it's over," Brian Gardner, chief Washington policy strategist at Stifel, told CNN Business.
David Kelly, chief global strategist at JPMorgan Asset Management, also told the outlet that he had already "heard that three years ago."
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Not the First Time for Donald Trump to Issue a Warning on Stock Market Crash
Donald Trump posted six tweets between August and October 2020, saying the stock market would "crash" if Joe Biden were elected president. He also made a similar warning during a debate with Biden in October 2020.
In December last year, Trump also said at a campaign rally in Iowa that a stock market crash was coming soon despite markets being close to all-time highs, Newsweek reported. According to CNN, Trump's forecast proved to be absurdly false.
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