Former President Donald Trump re-posted a tweet by InteractivePolls on his Truth Social platform Tuesday showing a net gain of 52% in the Nasdaq compared to the same point in President Joe Biden's term.
The tweet he re-posted on his platform showed that the Nasdaq gained 39.27% between Jan. 20, 2017, and June 29, 2018, compared to a loss of 12.25% for President Joe Biden from Jan. 20, 2021, to June 29, 2022, according to an interactive report from Investing.com, resulting in a net gain of about 52% comparing the two.
Trump reposted the tweet without additional comment.
According to Investopedia, the Nasdaq "is a global electronic marketplace for buying and selling securities. Its name was originally an acronym for "National Association of Securities Dealers Automated Quotations."
It operates 29 markets, one clearing house, and five central securities depositories in the United States and Europe and includes most of the Big Tech companies in the world.
Its composite index includes more than 3,700 stocks listed on its exchange, including Apple, Amazon, and Google.
Investopedia said the index closed at a record high of 16,057.44 on Nov. 19, 2021, 11 months after Biden took office, but dropped 23% through April 2022, losing a record 13% that month alone, rivaling a 17.4% loss in October 2008 during the global financial crisis.
Comparatively, the Dow Jones Industrial Average index (DIJA) grew 23% under President Trump during that period, while Biden has seen a growth of just 0.31% during his tenure as president, giving Trump a net gain of 22% compared to Biden.
The DJIA index, created by Charles Dow and Edward Jones in 1896 as a national economic indicator, includes 30 large, blue-chip, companies trading on the New York Stock Exchange, according to Investopedia.
The Consumer Price Index, which is used by the Bureau of Labor Statistics to monitor inflation, shows Trump had a slight increase of 0.4% during this point in his administration, going from 2.5% to 2.9% inflation, while Biden has seen a dramatic rise from 1.4% when he took office in 2021 to 8.6% inflation in May, an increase of 7.2%, according to the data.
Biden is blaming the record high inflation and higher prices on the 2020 COVID-19 outbreak and Russian President Vladimir Putin for invading Ukraine and forcing NATO nations to ban Russian oil and gas imports.
© 2024 Newsmax. All rights reserved.