The 'Trump Dump' is back--and the stocks that he targets are crashing
Former President Donald Trump has long regarded the stock market as a barometer for success, constantly touting record highs during his time in office and still bragging incessantly about the “beautiful” stock market on his watch.
However, what many commentators miss is not just the 40 record highs the stock market has hit under the Biden-Harris administration—but also that while Trump does hold significant sway over pockets of the stock market, much of his impact is profoundly negative, particularly for individual companies and industries that draw his ire.
Trump’s tantrums are nothing new
Stock price moves are rarely attributable to a single factor—but there is substantial evidence suggesting that Trump’s tantrums often appear to catalyze market dislocations, especially in the companies or sectors he targets politically.
For example, consider what happened after Trump attacked Taiwan’s semiconductor manufacturers, which account for ~90% of the world’s production, and questioned whether the U.S. should defend Taiwan militarily in an interview with Bloomberg Businessweek. In the immediate aftermath, U.S.-founded Taiwan Semiconductor (TSMC) plummeted ~15%, and the broader semiconductor index plunged 10%. Charts clearly show that July 16—the date on which the Bloomberg Businessweek interview was published—was an unmistakable turning point.
https://www.msn.com/en-us/money/markets/the-trump-dump-is-back-and-the-stocks-that-he-targets-are-crashing/ar-BB1qTVss