BLUE ASH, Ohio (AP) – President Donald Trump accused congressional Democrats on Monday of being “un-American” and perhaps even treasonous for refusing to cheer positive economic news during his State of the Union address. As he spoke, the stock market was plunging toward its largest single-day point drop ever, erasing its gains for the year.
Trump has frequently showcased the strong market as a barometer of his economic success and as a boon for everyday Americans and their retirement accounts. He did not mention the stock market during his speech, nor when reporters shouted questions as he returned to Washington after the markets had closed for the day.
At its close, the Dow Jones industrial average had fallen more than 1,150 points.
White House spokeswoman Sarah Huckabee Sanders stressed that the nation’s long-term economic fundamentals “remain exceptionally strong,” adding that Trump’s tax cuts and regulatory reforms would “further enhance the U.S. economy and continue to increase prosperity for the American people.”
During his wide-ranging remarks, Trump took special aim at House Democratic leader Nancy Pelosi for describing as “crumbs” the bonuses of $1,000 or more that some companies, including the one where he was speaking, are giving their workers as a result of the tax cuts.