WASHINGTON, D.C. — President Donald Trump celebrated record stock-market gains Wednesday, just one day after voters handed Democrats control of both chambers of Congress, an outcome Trump had repeatedly warned would trigger economic disaster.
“Stock Market just hit another Record High,” Trump wrote on Truth Social, adding that Americans’ 401(k)s were “through the roof.” The Dow surged more than 1,500 points Wednesday, while the S&P 500 and Nasdaq also posted strong gains.
The timing was striking. At an Oct. 26 campaign rally in Corinth, Mississippi, Trump told voters that if Democrats won Congress, the country would face a “1929-style economic depression” and potentially a “massive recession or depression.”
Instead, markets rallied immediately after Democrats captured the House and Senate. Analysts cited expectations of divided government, lower oil prices and reduced concerns about further escalation in the Iran war as contributing factors.
Trump nevertheless claimed the market performance as evidence of his own economic success, without acknowledging that the surge followed the exact political outcome he had predicted would devastate markets.
The president has spent much of the post-election period distancing himself from the Republican losses, blaming candidates, Fox News and weak MAGA turnout. Reuters reported that Democrats won sweeping victories fueled in part by dissatisfaction with the economy, high living costs and Trump’s handling of the Iran war.
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