A lot of predictions were upended when Donald Trump won the presidency. But one of the most interesting was the idea that a President Trump would cause a stock market collapse — or at least a sharp decline. As the liberal economist Justin Wolfers argued at the end of September, after analyzing market movements during a presidential debate, “Wall Street fears a Trump presidency. Stocks may lose 10 to 12 percent of their value if he wins the November election.”
“The market,” Wolfers concluded, “prefers the Democrat and believes that Mr. Trump is a unique threat to prosperity.”
From Wolfers to Mark Cuban to Bill Maher, this looming stock-market dive was yet one more reason Trump would be bad for the country — or so Democrats told themselves.
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