Sunday, November 8, 2026
President Donald Trump told the country on Sunday that the midterm election results have set America back, writing on Truth Social that "America took a giant step back in History with the results of the last Election," and pointing to the stock market — which he said had been a "ROCKETSHIP" under him — taking "a one day, 3 Trillion Dollar loss." He closed with a promise: "But have no fear, we will be back, BIGGER AND STRONGER THAN EVER BEFORE!"
The post was the president's clearest statement yet on the November 3 midterms, in which Democrats won control of both the Senate and the House of Representatives. Read in full on Truth Social, here: https://truthsocial.com/@realDonaldTrump/117581137343877006
The market numbers behind the president's figure are real. On Wednesday, November 4, the day after the election, stocks first rose sharply — the Dow Jones Industrial Average jumped 1,569 points, or 3 percent, its best showing after a midterm election in 44 years. The fall came on Thursday, November 5: the S&P 500 dropped 4.36 percent, the Nasdaq Composite fell 5.52 percent in its worst day in 19 months, and the Dow lost about 1,800 points — a selloff that wiped roughly $3 trillion off the value of S&P 500 companies, close to the figure the president cited.
Analysts who tracked the week say the selling was driven mainly by fears that a Democratic-controlled Congress would bring tougher rules on artificial intelligence and slow the building of data centres — the trade the market had run up hardest — and market trackers such as The Kobeissi Letter noted the drop also looked technical, with the election outcome already largely priced in. The president had made the same point to reporters in Florida on Friday: "We lost about $3 trillion when they found out that the Democrats did well in the election, rather surprisingly, but that's the way life goes."
For American families, the week was a reminder of how fast retirement savings and pension funds can swing on an election result: a single day erased about $3 trillion of the value ordinary savers hold through their funds, and whether the market steadies now depends on how the new Congress handles the technology rules investors fear.
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