Trump promised a markets boom; 100 days in, stocks have only seen damage

DONALD Trump promised Americans a “boom like no other” if they elected him president. But based on the stock market’s performance during his first 100 days in office, it depends on what you mean by “boom”.

The action certainly has been explosive – just not in the way investors were hoping. By Apr 30, Trump will have closed out his first 100 days in office. Despite last week’s rally, the S&P 500 Index is down about 8 per cent since his inauguration and on track for its worst run during a president’s first 100 days since Gerald Ford in 1974, following Richard Nixon’s resignation.

It’s a U-turn few on Wall Street saw coming after two straight years of over 20 per cent gains and what was expected to be a pro-growth agenda. Instead, markets swung wildly as Trump slapped tariffs on basically every country where US companies operate – and then suspended some, carved out exceptions for certain industries, and ratcheted up the trade war with China.