Former President Donald Trump sharply criticized Vice President Kamala Harris on Monday for a significant drop in the stock market, dubbing the downturn the “Kamala Crash” and warning of an impending “Great Depression of 2024.” Trump took to his platform, Truth Social, to express his concerns and criticisms.
“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 posted. He further declared, “Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!”
In another post, Trump framed the upcoming election as a 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,” emphasizing his belief in his own predictions by stating, “REMEMBER, TRUMP WAS RIGHT ABOUT EVERYTHING!!!”
The stock market experienced significant declines, with major indexes like the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all taking hits. Breitbart News’s economics editor John Carney highlighted that the drop reflected investor concerns following economic data showing rising unemployment and slower job growth than anticipated. Manufacturing sector surveys indicated a sharp decline in activity, often seen as an economic bellwether.
The Department of Labor reported that the economy added only 114,000 jobs in July, well below the forecasted 180,000. Separate surveys of purchasing managers showed factory activity contracting in the month.
The presidential election dynamics may also be influencing the markets. As Harris’s polling numbers rose after she replaced President Joe Biden as the presumptive nominee, the market’s performance declined. This shift contrasts with the market’s rise when Trump was the clear favorite in the polls.
Trump’s running mate, Sen. JD Vance (R-OH), also weighed in, expressing concern about the potential global economic impact. “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 wrote on X. He criticized Harris’s silence on the market decline and questioned her leadership, using the hashtag “#WheresKamala.”
