Even investors with a lot at stake tend to agree: The stock market shouldn’t be a president’s top priority, especially when issues like war, blistering inflation and a pandemic are in play.
Still, for practical purposes, there’s no getting around the disparity between the styles of Joe Biden and Donald Trump when it comes to the intersection of markets and politics.
On Twitter, the favored forum for politicians to boast about accomplishments, Trump posted about stocks dozens of times, treating a rising Dow as an alternative approval rating of his administration. Biden has yet to tweet about the market at all, despite a string of records in his first year in office.
Or consider State of the Union addresses. Trump touted a 70% rally during his term. Biden’s only mention of equities was to point out that sanctions stemming from the invasion of Ukraine knocked 40% off the value of Russian stocks and caused that market to close.