Under Trump, stocks have the worst start to a term of office of the President since 1974

Hundred days of President Trump. Seventy days of whipsaw trading on the financial markets. 32 days of losses. More than 6.5 trillion dollars that were wiped out by the value of public companies.

For the financial markets, the decline of the S&P 500 is 7 percent of the worst start to a term of office of the President, since Gerald R. Ford was taken over by Richard M. Nixon in August 1974. The break -in is worse than when the tech bubble burst around the turn of the century and George W. Bush inherited a market out of free autumn.

In contrast, Mr. Trump inherited an economy on solid foundations and an exchange that rose from one record to another.

That changed quickly when Mr. Trump unveiled his tariffs of the Marquee tariffs – not the first new import taxes that were announced by his administration, but by far the most extensive. Volatility broke out. Wall Street began to struggle with the economic consequences of the politics of the new government.

The S&P 500 fell by more than 10 percent in two days, a decline that was comparable to some of the worst days of the Pandemie-induced sale in March 2020 and previously the financial crisis in 2008.

Since then, stocks have stabilized, but the shock waves of the chaotic tariff -rollout continues to send tremors through the global financial system.