Former President Donald Trump slammed President Joe Biden on Sunday, as equities around the world fell over recession fears following a disappointing jobs data in the United States.
“STOCK MARKETS CRASHING. I TOLD YOU SO!!! KAMALA DOESN’T HAVE A CLUE. BIDEN IS SOUND ASLEEP. ALL CAUSED BY INEPT U.S. LEADERSHIP!” Trump posted on his Truth Social account.
On Monday, Japan’s Nikkei 225 lost more than 12%, Germany’s DAX fell 2.3%, France’s CAC fell 1.9%, and London’s FTSE 100 fell 1.5%, marking a three-month low.
The declines coincide with mounting concerns about an economic recession in the United States.
According to CNBC, the Nikkei 225 dropped the most since Wall Street’s Black Monday meltdown in 1987. With a 5.8% drop on Friday, it was apparently the worst two-day span for the Nikkei 225 ever.
Stocks in the United States also fell, with the NASDAQ 100 Futures dropping 4.41%, the Dow Jones Futures 2.10%, and the S&P 500 Futures more than 300%.
Trump commented on the tumbling financial markets in a Truth Social post on Sunday night, claiming that weak American leadership was to blame.
Trump has repeatedly criticized Biden’s economic policies, citing the inflation that has afflicted his presidency.
Investors appear to be reacting to a Friday Bureau of Labor Statistics data that showed U.S. unemployment in July reached its highest level since October 2021.
According to the data, unemployment increased to 4.3% last month, with only 114,000 nonfarm jobs added, significantly less than economists’ expectations of 185,000.
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