President Donald Trump on Wednesday claimed that the only reason the stock market has crashed this week is because there is too much good news.
"In the 'old days,' when good news was reported, the Stock Market would go up," Trump wrote. "Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!"
It is unclear what Trump is talking about, although he may be reacting to reports that investors are in the mood to sell because they fear the Federal Reserve could hike interest rates to ward off inflation as the economy approaches full employment.
Nonetheless, Trump's new talking point about the stock market is a drastic departure from what he's been saying about the stock market for the past year when he claimed credit for pushing the Dow Jones Industrial Average to record highs.
The Dow on Monday crashed by nearly 1,600 points, a record one-day nominal drop for the stock index.
