President Donald Trump speaks to the press during Finnish President Sauli Niinisto’s visit to the White House on Wednesday.
President Donald Trump on Wednesday blamed Democrats’ impeachment push for stock-market losses, as he attacked House Speaker Nancy Pelosi and House Intelligence Committee Chairman Adam Schiff.
DRIVING THE MARKET DOWN
With U.S. stock indexes deeply in the red on Wednesday, Trump said on Twitter, “All of this impeachment nonsense, which is going nowhere, is driving the Stock Market, and your 401K’s, down. But that is exactly what the Democrats want to do. They are willing to hurt the Country, with only the 2020 Election in mind!”
Investors have been paying attention to the impeachment effort against Trump, but the catalyst for Tuesday’s slide appeared to be data showing slower job creation and increased concerns about economic growth thanks to Trump’s trade war with China. The Dow Jones Industrial Average DJIA, -2.00% fell more than 500 points, while the S&P 500 index SPX, -1.95% dropped 52 points and the Nasdaq COMP, -1.75% skidded 127 points.
Schiff, the California Democrat leading the impeachment push, said at a news conference that any Trump administration efforts to hamper the investigation would be considered obstruction. On Twitter, Trump called Schiff a “lowlife” and claimed Pelosi was “incapable” of working on lowering prescription drug prices or replacing the North American Free Trade Agreement with a new pact. Pelosi began a news conference Wednesday by addressing both issues.
Also Wednesday, Trump addressed a New York Times report that he suggested shooting migrants in the legs as they tried to enter the U.S. and that he sought an alligator-filled moat at the border with Mexico. He didn’t mention the shooting of migrants in his tweet but said about the moat, “I may be tough on Border Security, but not that tough.”