Former President Donald Trump sharply criticized Vice President Kamala Harris on Monday, blaming her for a significant drop in U.S. stock markets and warning of an impending “Great Depression of 2024.” Trump’s remarks came via his Truth Social account, where he labeled the market decline the “Kamala Crash.”
“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 added, “Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!”
Trump framed the upcoming election as a choice between “TRUMP PROSPERITY, OR THE KAMALA CRASH & GREAT DEPRESSION OF 2024.” He also suggested a “PROBABILITY OF WORLD WAR III IF THESE VERY STUPID PEOPLE REMAIN IN OFFICE,” reiterating his belief in his own predictions by stating, “REMEMBER, TRUMP WAS RIGHT ABOUT EVERYTHING!!!”
The downturn affected major stock indexes, including the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite. John Carney, Breitbart News’s economics editor, highlighted investor anxiety following economic data showing rising unemployment and slower job growth than expected. Surveys of manufacturing activity indicated a significant decline, often seen as an economic warning sign.
The Department of Labor reported that only 114,000 jobs were added in July, far below the forecasted 180,000. Surveys of purchasing managers showed a contraction in factory activity for the month.
Political dynamics may be influencing market performance. The market decline coincides with Harris’s rise in the polls after she replaced President Joe Biden as the presumptive nominee, contrasting with the market’s ascent when Trump was leading in the polls.
Trump’s running mate, Sen. JD Vance (R-OH), echoed Trump’s concerns, warning of global economic repercussions. “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 posted on X. He criticized Harris for not addressing the market decline and questioned her leadership, using the hashtag “#WheresKamala.”
