, Columnist
Trump’s Favorite Barometer Is Warning Him
The president craves approval from the stock market, which is in no mood to give it to him.
What have you done for us lately?
Photographer: Spencer Platt/Getty Images
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The stock market is calling the White House to account, and it won’t be easily distracted.
The S&P 500 Index has tumbled 19.8 percent from its recent high on Sept. 20 through Monday, just shy of a 20 percent decline that customarily defines a bear market. It’s no doubt a bitter pill for President Donald Trump. He fancies himself a champion of American business and gauges his success by the level of the stock market. With stock prices plummeting, the president can’t feel great about how things are going.