Former President Donald Trump harshly criticized Vice President Kamala Harris on Monday, attributing a significant drop in stock market indexes to her and predicting a “Great Depression of 2024.” Trump’s comments came via his social media platform, Truth Social, where he labeled the downturn the “Kamala Crash.”
“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,” Trump wrote. He continued, “Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!”
Trump framed the upcoming election as a stark 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 accuracy by stating, “REMEMBER, TRUMP WAS RIGHT ABOUT EVERYTHING!!!”
The U.S. stock market saw major indexes such as the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite suffer significant losses. John Carney, economics editor for Breitbart News, highlighted that the decline reflected deep investor concerns following economic reports indicating rising unemployment and slower job growth than expected. Manufacturing sector surveys also showed a sharp decline in activity, a key economic indicator.
The Department of Labor reported an increase of just 114,000 jobs in July, well below the forecasted 180,000. Separate surveys of purchasing managers revealed a contraction in factory activity for the month.
The presidential election dynamics appear to be influencing market performance. The market declined as Harris’s polling numbers rose after she replaced President Joe Biden as the presumptive nominee, contrasting with the market’s rise when Trump was leading in the polls.
Sen. JD Vance (R-OH), Trump’s running mate, also voiced concerns, warning of a potential global economic crisis. “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.”
