, Columnist
Why Trump Cares Less About Market Pain This Time
Theories abound, but the big question is whether the Trump Put is really dead or just on life support.
Looking for havens.
Source: Bloomberg
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Is there a Trump Put or isn’t there? Throughout his first term in office, the president put great store by the stock market, and seemed to regard any climb as validation. He wanted to be judged by the rise and fall (especially the rise) of share prices. That made the market the most important “guardrail,” in the eyes of many commentators. If it didn’t like what he was doing, there would be a selloff and he’d change course.