From WRAL: 2024-03-29 11:22:12

The stock market hit record highs in December and January, with the S&P 500 and Dow Jones both reaching all-time peaks. Former President Trump claimed credit for the market surge on his Truth Social platform. Transportation Secretary Buttigieg countered, stating that Biden deserves credit for the market rise, as it hit new highs under his presidency. However, market fluctuations can be influenced by investor perceptions rather than just economic data. The S&P 500 tracks the performance of 500 large U.S. companies and can reflect economic realities. The market often rises over time, despite occasional declines. During Trump’s presidency, the S&P 500 saw several record highs, including during the pandemic. Under Biden, the S&P 500 hit new peaks in 2021 and continued to set records even in 2024. Currently, the S&P 500 is around 5,100, surpassing its value at the end of Trump’s term. Buttigieg’s claim that the stock market hit all-time highs only under Biden is mostly false, as the S&P 500 reached peak values during both administrations.



Read more at WRAL: Buttigieg says stock market set records under Biden but not Trump