Trump is the only President to my 65 year old memory that was so naive, frankly stupid enough to strap himself to the stock market--
Here's what he tweeted out back in 2015.
Yes, irrational exhuberance always exists in the stock market. What goes up will come down. The Federal Reserve bank is the only one that dictates the direction of the stock market and Trump has no power over what they decide they will do with interest rates. Interest rates go UP, this sends investors running to the exists and money mangers start looking at rational P/E ratio's aka price to earnings ratios. There are only 2 emotions regarding the stock market--FEAR & GREED.
FEAR EXASERABATES MORE FEAR.
Now one would think that good economic news--200K new jobs in one month would send the stock market soaring--& here is the FEAR part. The FEAR is that the Federal Reserve will agressively raise interest rates this year to slow the economy down, along with all those raises and bonus's people got--from the tax cut will send
inflation soaring, which INSTALLS THE FEAR that the Federal reserve will raise interest rates even more aggressively.
Somebody sneezes now and the roller coaster starts.
This is why no other President in this nation was dumb enough to strap himself and take credit for stock market gains, because they also get to take credit for the roller coaster which normally ensues into yuuuge corrections and sometimes crashes.