Barstool Sports founder Dave Portnoy knocked President Trump on Wednesday, suggesting that current stock market volatility was the result of policies from former President Biden's term, not himself.
“What's that old look? Should I piss off my back and say it's raining?” Portnoy wrote in X's post. “Well, that applies here.”
“The stock market directly reflects Trump's 100 days in office,” he continued. “It doesn't mean it won't get better, we don't need to be patient, but this is his market, not his.”
Portnoy's post included screenshots of Trump's statement from Wednesday morning, in which the president argued that his sweeping global tariffs were not responsible for market turbulence, urging Americans to be patient.
“This is Biden's stock market, not Trump's stock market. I didn't take over until January 20th. Tariffs start kicking quickly, and businesses start moving to America in record numbers.The true society.
The President added: “This takes a while and has nothing to do with tariffs. It's just that he left us with a bad number, but when the boom starts, it's unlikely to be anything else. Hold on!!!”
The statement came as it released new data indicating that US GDP fell at an annual rate of 0.3% in the first quarter of 2025, after an annual increase in the fourth quarter of 2025.
Economists had expected GDP to fall amid a rapid increase in orders for foreign products.
Trump's Sweep fee announcement On April 2nd, it launched the market with a record no-deve. The market lost $6.6 trillion in the two days following the announcement. This reported that the Wall Street Journal was the largest two-day pullback in history.
The market has bounced over several but continues to struggle. It opened with losses on Wednesday just minutes after the President's post on the True Society.
Trump's first 100 days were the worst for the stock market at the beginning of his presidency since former President Nixon's second term in the 1970s.CNBC reported.
https://thehill.com/business/5275464-dave-portnoy-trump-stock-market-biden-gdp-tariffs/
