Did Trump Say the Stock Market Would ‘Crash’ If Biden Won Election?

The stock market soared as the Biden administration's transition officially got underway.

  • Published 24 November 2020
Image via Screen shot / C-Span YouTube channel

Claim

U.S. President Donald Trump said that the stock market would "crash" if Joe Biden was elected president.

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Origin

Voting in the 2020 U.S. Election may be over, but the misinformation keeps on ticking. Never stop fact-checking. Follow our post-election coverage here.

In the weeks leading to Nov. 3, 2020, U.S. presidential election, incumbent Donald Trump had wrongly predicted that if his political rival —  now-President-elect Joe Biden — won the election, the stock market would crash.

According to Factbase, a database that collects Trump’s statements, the outgoing president made that prediction numerous times.

For example, during the second presidential debate on Oct. 22, 2020, Trump had stated that if he was reelected, the stock market would “boom,” and “If he [Biden] was elected, the stock market will crash.” He made the claim again during a campaign rally in Pennsylvania on Halloween, saying, “If [Biden] gets in, the market will crash.”

The prediction failed to materialize. On Nov. 24, 2020, as Biden’s transition formally got underway, the stock market hit a record high. Trump acknowledged the stock market record with a brief announcement in the White House briefing room, then exited without taking questions from reporters.