Stock Market Performance Has Been Up Big Ever Since Trump Descended The Golden Escalator

When Donald Trump descended the escalator at Trump Tower in June 2015 to announce his presidential candidacy, the Dow Jones Industrial Average (DJIA) was hovering around 18,000, reflecting a relatively stable market amidst global economic uncertainties. From that moment through the end of his first term in January 2021, the Dow experienced significant growth, climbing to around 31,000 despite major disruptions like the COVID-19 pandemic. Initially, markets reacted cautiously to Trump’s outsider status, but his pro-business rhetoric—promising tax cuts, deregulation, and infrastructure spending—fueled optimism, driving a 6.1% gain in his first 100 days in 2017, as noted in posts on X. The Tax Cuts and Jobs Act of 2017 and a strong U.S. economy propelled the Dow past 25,000 by January 2018, though volatility spiked later that year due to U.S.-China trade tensions, with the Dow dropping nearly 20%. The market rebounded in 2019, and even after a sharp 38% plunge in early 2020 due to the pandemic, unprecedented Federal Reserve interventions and stimulus measures helped the Dow recover, closing above 30,000 by November 2020, a 67% increase from June 2015.

Between January 2021 and Trump’s return to office in January 2025, the Dow continued its upward trajectory, though with notable fluctuations. After Trump left office, the market benefited from continued economic recovery and low interest rates, pushing the Dow to a peak of 29,551.42 in February 2020, and further to 42,330.15 by September 2024, as reported by Statista. This period saw the Dow rise by approximately 174% over the 2010s decade, according to historical data, with gains driven by tech-heavy sectors and a resilient consumer base. However, inflationary pressures and Federal Reserve rate hikes in 2022 introduced volatility, though the index largely maintained its upward trend, supported by corporate earnings growth and a lack of major external shocks. By the time Trump was re-elected in November 2024, the Dow was well-positioned above 40,000, reflecting a decade of overall growth despite intermittent corrections, such as the 2015-2016 selloff and the 2020 COVID crash.

Since Trump’s second inauguration in January 2025, the Dow has faced a challenging environment, declining to 41,249.38 as of May 9, 2025, according to MacroTrends. This represents a 6.8% drop in Trump’s first 100 days of his second term, a stark contrast to the gains seen in 2017, driven largely by his aggressive tariff policies and renewed trade tensions with major partners like China and Mexico. The S&P 500, a broader market indicator, also fell 10% year-to-date by April 2025, with the Dow down 4.41% year-to-date as per S&P Dow Jones Indices, reflecting broader market unease. While the Dow had briefly hit a record high above 42,000 in late 2024, Trump’s tariff announcements—such as the April 2, 2025, “Liberation Day” speech imposing reciprocal tariffs—triggered a sharp correction, with the market struggling to regain footing amidst fears of inflation and economic slowdown. From June 2015 to May 12, 2025, the Dow’s journey reflects a nearly 130% increase overall, but the recent downturn underscores the market’s sensitivity to policy shifts, challenging the narrative of uninterrupted growth under Trump’s economic stewardship.