Over the last year, while President Joe Biden was in office, Trump took credit for stock market rallies as a vote of confidence in his electoral prospects. When the market dipped, he blamed Biden and Vice President Kamala Harris. And he predicted that if Democrats won the 2024 presidential election, the stock market would have crashed.

The United States’ stock market has shed more than $1.7 trillion in value after US President Donald Trump declined to rule out the possibility the economy could enter a recession this year. The benchmark S&P 500 on Monday tumbled 2.7 percent, dragging the index nearly 9 percent below its all-time high reached on February 19.