As stocks are taking a nosedive, Vice President Kamala Harris’ campaign is getting roasted for mocking a four-year-old prediction by her rival in the 2024 election.
In a post in May, the Harris campaign’s account wrote, “Four years ago today, Trump claimed the stock market would “crash” if Joe Biden was elected (The stock market has reached the highest levels ever recorded in history under President Biden).”
Trump shared the post as stocks in the U.S. took a nosedive amid concerns about a recession and wrote, “This [Harris] post didn’t age well.”
Check out some of the reactions below:
— ALX(@alx) August 5, 2024
CNN reported Monday that the Nikkei 225 index of leading stocks in Tokyo lost 4,451 points, which was the largest single-day drop in its history.
The report noted that “the index closed more than 12% down, bringing its losses since early July to 25% and entering bear market territory.”
CNN explained, “Fears of a sharp slowdown in the US economy have raised expectations that the Federal Reserve will have to slash interest rates. Coming as the Bank of Japan (BOJ) takes its interest rates higher to contain inflation, that is boosting the value of the yen against the US dollar and making Japanese export-dependent stocks less attractive.”
The losses come after the U.S. reported adding just 114,000 jobs in July, down from the expected 175,000, and as the unemployment rate rose to 4.3%, adding to concerns about a slowdown.
And early Monday morning, the Dow Jones Industrial Average plunged 1,200 points.
