Trump Warns Of Economic Downturn After Stock Market Plunge, Blames Harris

Former President Donald Trump issued a stern warning on Monday, predicting a “Great Depression of 2024” following a significant drop in U.S. stock market indexes. Trump attributed the market decline to Vice President Kamala Harris, calling the event the “Kamala Crash.”

On Truth Social, Trump posted, “Of course there is a massive market downturn. Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic that destroyed San Francisco and California, as a whole.” He added, “Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!”

Trump emphasized the stakes of the upcoming election, presenting it as a choice between “TRUMP PROSPERITY, OR THE KAMALA CRASH & GREAT DEPRESSION OF 2024.” He also warned of a “PROBABILITY OF WORLD WAR III IF THESE VERY STUPID PEOPLE REMAIN IN OFFICE,” reiterating his belief in his own predictions by stating, “REMEMBER, TRUMP WAS RIGHT ABOUT EVERYTHING!!!”

Major stock indexes, including the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite, experienced sharp declines. John Carney, Breitbart News’s economics editor, highlighted investor anxiety following economic data showing rising unemployment and slower job growth than anticipated. Surveys of manufacturing activity indicated a significant decline, often seen as a warning sign for the economy.

The Department of Labor reported that only 114,000 jobs were added in July, far below the forecasted 180,000. Business executive surveys revealed a contraction in factory activity for the month.

Political dynamics may also be influencing market performance. The market’s decline coincides with Harris’s rise in the polls after replacing President Joe Biden as the presumptive nominee, contrasting with the market’s ascent when Trump was leading in the polls.

Sen. JD Vance (R-OH), Trump’s running mate, echoed Trump’s concerns, warning of potential global economic repercussions. “This moment could set off a real economic calamity around the globe. It requires steady leadership–the kind President Trump delivered for four years,” Vance posted on X. He criticized Harris for not addressing the market decline and questioned her leadership, using the hashtag “#WheresKamala.”