Trump correctly points finger at Democrats as stock market plunge follows midterm gains
Democrats gain control of Congress
Several Democrats were projected to win House races, including Luz Rivas in California, Sam Forstag in Montana and Shannon Taylor in Virginia. The projected House count reached 247 Democrats and 147 Republicans.
Trump blames election for market fall
Trump attributed the stock market’s decline to the election results in a post on Truth Social. He called it one of the market’s “Worst Days in History” and said it was sad to watch.
The election outcomes also prompted scrutiny of the administration, as reports described internal efforts to assign blame for the losses. Trump reportedly asked advisers whether Defense Secretary Pete Hegseth should be removed.
Rubio report and other developments
Secretary of State Marco Rubio was reportedly on “resignation watch” after the Republican midterm performance, according to sources familiar with the matter cited by The Independent. The White House denied the report.
Senate Minority Leader Chuck Schumer said he had spoken with Senate Majority Leader John Thune after Democrats’ gains and planned to meet him soon. Separately, the Justice Department has stepped up its investigation into who leaked a draft of the 2022 Supreme Court decision overturning Roe v. Wade, issuing grand jury subpoenas and seeking information from people who worked at the court.
Key points
- Trump linked the stock market decline to the election results in a Truth Social post.
- A senior administration official rejected reports that Pete Hegseth might leave his post.
- The White House denied a report that Marco Rubio was on resignation watch.