{"id":486665,"date":"2026-06-06T21:10:25","date_gmt":"2026-06-06T21:10:25","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/486665\/"},"modified":"2026-06-06T21:10:25","modified_gmt":"2026-06-06T21:10:25","slug":"markets-wrap-donald-trump-baffled-angry-at-bloodbath-on-wall-street","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/486665\/","title":{"rendered":"Markets wrap: Donald Trump baffled, angry at bloodbath on Wall Street"},"content":{"rendered":"

Donald Trump<\/a> has responded with outrage and bafflement after the worst day on Wall Street this year.<\/p>\n

Shares plummeted overnight<\/a> on the back of higher-than-expected jobs figures, with the Nasdaq<\/a> down 4.2 per cent, the largest point drop in history.<\/p>\n

\"Donald<\/p>\n

Donald Trump has raged at the market reaction to a positive jobs report.\u00a0AP Photo\/Mark Schiefelbein<\/p>\n

The market bloodbath over what is ostensibly good economic news confused the president, who lashed out on Truth Social<\/a>.<\/p>\n

\u201cWith a great Jobs Report, like just announced, stocks should go up, not down,\u201d he wrote.<\/p>\n

\u201cThat\u2019s the way it was for 200 years. Growth does not mean inflation! How else can a Country attain GREATNESS???\u201d<\/p>\n

But the market was responding to the positive jobs numbers by looking forward to a likely interest rate hike.<\/p>\n

Inflation numbers are up and only expected to get higher in the US, and the new job figures will make things worse.<\/p>\n

Trillions of dollars were wiped from the market in just hours, with big technology stocks among those hit hard.<\/p>\n

Some of the fall was credited to the looming initial public offering (IPO) of Elon Musk\u2019s company SpaceX<\/a>.<\/p>\n

\"Wall<\/p>\n

Wall Street has nosedived overnight on the back of a positive jobs report.\u00a0AP Photo\/Richard Drew<\/p>\n

Investors wanted to have cash on hand to buy some of SpaceX when it goes on sale next week.<\/p>\n

Bitcoin also collapsed, now at less than half of its October value. The cryptocurrency has dropped 20 per cent this week alone.<\/p>\n

Despite Wall Street reaching record highs earlier this week, the Friday plunge means Google, Apple, Nvidia, Meta and Amazon are all down for the week. Tesla<\/a> is down by more than 10 per cent.<\/p>\n

It brings a brutal end to a months-long growth streak on Wall Street<\/a>.<\/p>\n

While consumer sentiment has been dire in the United States<\/a> in recent months, the markets have been surging. <\/p>\n

The futures on the Australian stock exchange indicate the market will be down on opening on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"Donald Trump has responded with outrage and bafflement after the worst day on Wall Street this year. Shares…\n","protected":false},"author":2,"featured_media":486666,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-486665","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/486665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=486665"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/486665\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/486666"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=486665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=486665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=486665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}