Futures on the Dow Jones were down over 1,500 points and 4% for S&P 500 on Sunday amid fears of a ‘Black Monday’
Trump’s statement came a day after CNBC market analyst Jim Cramer warned investors about a Black Monday-like crash. Back in 1987, the Dow Jones had plunged 22.6% within a trading session. During his show, Cramer added that if the ‘president doesn’t try to reach out and reward these countries and companies (hit by tariffs) that play by the rules, then the 1987 scenario… the one where we went down three days and then down 22% on Monday, has the most cogency’.
Read More: Donald Trump says ‘time to get rich’ as Dow Jones crash sparks recession fears
Dow Jones Industrial Average futures fell 1,531 points, or 4.1% Sunday evening. Nasdaq-100 futures tanked 5.3%. This comes days after the Dow posted back-to-back losses of more than 1,500 points for the first time. It fell 2,231 points on Friday. The losses followed Trump’s ‘Liberation Day’ tariffs announcement on Wednesday. More than $6 trillion have been wiped away from the stock market, according to an AFP report.
Read More: ‘Check the 5-year-chart’: MAGA defends Trump amid Dow Jones plummet
President Trump, however, dismissed the market crash as a ‘great time to get rich’. In a Truth Social post, he wrote: “To the many investors coming into the United States and investing massive amounts of money, my policies will never change. This is a great time to get rich, richer than ever before!!!”
“Big business is not worried about the Tariffs, because they know they are here to stay, but they are focused on the BIG, BEAUTIFUL DEAL, which will SUPERCHARGE our Economy. Very important. Going on right now!!!” he added.
Dow Jones Futures,S&P futures,Donald Trump,Black Monday,Tariff
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