Trump blames Harris for US stock market crash… ‘Recession worries’ as change in presidential election

Former President Donald Trump, the Republican presidential candidate, attacked Democratic presidential candidate Vice President Kamala Harris as being responsible for the fall in the US stock market. There is an assessment that the state of the economy in the United States, with growing concerns about an economic recession, could appear as a major change in the presidential election.

As the US stock market plunged as soon as it opened on the morning of the 5th (local time), former President Trump posted on Truth Social, a social networking service (SNS) he created, “Yes the stock market is falling, there are signs of employment. “It’s getting closer and we have two of the most incompetent leaders in history,” he said. “Is it the prosperity that Trump brings, or the collapse and Great Depression that Kamala brings?” he wrote.

Former President Trump’s comments have been interpreted as an attempt to focus on blaming Vice President Harris for the stock market crash. The Republican camp has placed strategic emphasis on the claim that the responsibility for economic problems lies with the policy failures of the Joe Biden administration. In July, the unemployment rate hit 4.3%, the highest level since October 2021, and the manufacturing PMI fell below market expectations, leading to an economic recession. .

The Wall Street Journal (WSJ) said, “As the recent economic turmoil has heightened voters’ sense of urgency, former President Trump has an opportunity to gain the upper hand in the competition with the Vice President Harris,” saying, “There’s nothing like a vice president. There’s nothing President Harris can do right now to calm investors.” “The problem is that it’s not relevant,” he said. “Bad news about the economy will weigh on the Harris campaign,” Republican pollster Mike Roberts told the WSJ.

On the other hand, there are also predictions that stock market conditions will not have a significant impact on the presidential election. During the 2020 presidential election, the US stock market rose due to the huge liquidity that was released into the market after the spread of COVID-19, but former President Trump lost to the President Biden. Frank Luntz, another Republican voter, expected NHS

Some say that the economic situation can change dramatically in three months. If the Federal Reserve System (Fed) lowers interest rates at the Federal Open Market Committee (FOMC) in September, the market outlook may improve. There is also a study that this increase in unemployment is not due to layoffs but due to an increase in labor supply, so it is not at a level that warrants concern about a severe economic recession.

At the same time, the American media, including CNN, reported on the 6th that Minnesota Governor Tim Walz (60, photo) was chosen as a running mate (vice presidential candidate) for Vice President Harris, who he was officially confirmed as the Democratic presidential candidate. Governor Walz is a six-term member of the US House of Representatives and has served as Governor of Minnesota since 2019.