CNN senior data reporter Harry Enten declared on Tuesday that President Donald Trump is “on a planet all by himself” when it comes to stock market drops during his administration.
Enten joined CNN anchor Kate Bolduan and noted that after Monday, Trump has overseen a larger fall in the S&P 500 than any other president since its creation in 1957. Trump has overseen a 14% drop, while the closest another president has come is a 7% drop under former President George W. Bush. The S&P 500 opened slightly up on Tuesday.
“Donald Trump is on a planet all by himself, a planet you do not want to be on. The American people don’t want to be on. In terms of the drop in the S&P 500 approaching 15% already in his presidency, no bueno,” Enten said.
He reported that Goldman Sachs, Reuters, Polymarket, and J.P. Morgan are all predicting between a 45-60% chance of a recession in the next 12 months amid the president’s trade wars.
“There’s basically a 50-50 chance of a recession at this point, and that is way up from where we were at the beginning of the Trump presidency, when the numbers, simply put, weren’t anywhere near this,” Enten said.
He then pointed to a CNBC poll released in April to provide Trump a “reality check” if he believes he can avoid blame for a recession. According to the survey, 52% of respondents said they’d blame Trump “a lot” or “quite a bit” for a recession while 32% said they would blame the president “a little” or “not at all.”
“If Donald Trump believes that he can somehow escape blame if there is, in fact, a recession, I’m here for a reality check,” Enten said. “He will, simply put, not be able to do so.”
Watch above via CNN.
