Trump said Monday that the stockmarket is “very, very great,” but that it is “a terrible place to be” and that “you have have to have a stupid mind to think” that it will be.
In a speech to the Financial Services Roundtable on Monday, the President was asked about the state of the stock exchange and the prospects for the stock markets, which have been hit hard by recent economic news.
Trump answered that “the stock market is a very, very good place to make money” because it is a “great place to invest.”
But he also said that the “financials have crashed like hell” and added that it would be “very stupid” to think the stockmarkets will be “great” because “it will be very, extremely bad.”
“The stock market will be a very poor place to hold money, and it will fall like hell,” he said.
Trump also said there is “no reason to believe that stocks will recover to the level they were at before the Great Recession.”
“They’re not going to,” he added.
The president’s comments come as the Dow Jones Industrial Average is now up more than 2,000 points in the past three days.
On Monday, it was up 2,900 points.
Trump’s comments on the stock and economic markets came just two days after he told the Financial Review that the Dow should have been up “by 20,000” by now.