President Donald Trump accused Democrats of “presidential harassment” and alleged it was causing the stock market to slide Monday.
"The prospect of Presidential Harassment by the Dems is causing the Stock Market big headaches!" Trump tweeted Monday morning.
The Dow Jones Industrial Average had fallen by more than 400 points since trading opened Monday morning when the president posted the tweet.
Democrats have vowed to open numerous investigations into Trump's dealings after winning control of the House of Representatives in the midterm elections.
“There are at least 85 topics that Democrats have said they’d target — or are expected to target — in the forthcoming torrent of investigations and subpoenas to be directed at the Trump White House,” Axios reported on Monday.
Trump tweet echoes McConnell:
The president's tweet seemed to double-down on a comment made by Senate Republican leader Mitch McConnell last week.
“The business of presidential harassment, which we were deeply engaged in the ’90s, improved the president’s approval ratings and tanked ours,” McConnell told reporters at a press conference, warning that Republican attempts to go after Bill Clinton backfired.
Analysts disagree with Trump:
“Most analysts attribute the issues to major companies signaling weaker-than-expected future earnings and continued trade war fears, rather than the results of the midterm elections,” Business Insider reported. “Analysts say the likelihood of gridlock with a divided Congress is a neutral result for stocks and likely has little impact.”
"Stock-market analysts have attributed factors including the Fed’s interest-rate strategy and Trump’s own trade wars for the recent stock-market volatility, rather than ongoing and prospective investigations into Trump’s conduct. The Dow’s down about 5% from its October peak," MarketWatch reported.
Dems vow to fight:
“The days of Presidential Immunity are OVER. Gone,” Rep. Eric Swalwell tweeted. “No more free passes to cash in on access to the Oval Office. No more colluding with Russia. And we’ll see if you’re a tax cheat. America is putting a balance of power on your abuses of power. Welcome to democracy.”