The stock market, which took a beating on Monday and showed more volatility in futures trading on Tuesday, rebounded in a big way by the time trading ended yesterday afternoon.
The Dow Jones shot up over 560 points and despite the losses over the last week, if you put 10 thousand dollars into your 401K the day after President Trump one the election, that investment has now grown to over 13 thousand dollars. Financial planner Richard Rosso says the rebound is not surprising.
“It’s because like a rubber band, it gets stretched and then pops back. The question now is what it pops back to,” Rosso said after the market hit correction mode yesterday before its rebound.
The mainstream media did not want to credit President Trump for the gains in the market, but they wanted to blame him for the losses. Don Hooper with the Houston Conservative Forum says that figures.
“What you see with the media blaming him for everything is this. They just don’t like Trump and they are going to blame him for everything,” Hooper explained.
While the losses Monday were big and the worst since 2011, according to history, that drop was not even Top 20 all time, and just the 25th worst loss since 1960.