Before a jury found the presumptive GOP nominee, former President Donald Trump, guilty on 34 felony counts for falsifying business documents to cover up an alleged sexual encounter with an adult film star and prevent the story from influencing the 2016 presidential campaign, Trump and his allies claimed that the stock market would “crash” and “do very badly” if he was convicted.
As seen below on Fox Business, conservative political pundit and Breitbart economics reporter John Carney predicted “at least a two percent drop.”
Note: After the guilty conviction was announced, on Friday the Dow Jones Industrial Average was up nearly 600 points (575 points) — a 1.5 percent gain.
MSNBC’s Squawk on the Street co-host Carl Quintanilla reported it was “the Dow’s best day of the year.”
Today was the Dow’s best day of the year. https://t.co/yYpp9ZuynJ
— Carl Quintanilla (@carlquintanilla) May 31, 2024
Note: The S&P 500 saw a 42-point gain, or 0.8%; and the NASDAQ was down slightly, shedding 0.4%.
Carney added to his prediction that the markets “will bounce back because, look, even if they put Donald Trump in jail, I think the American people will vote him into president. We will vote him into the White House right out of the New York City jail.”