{"id":56147,"date":"2025-04-29T13:46:40","date_gmt":"2025-04-29T13:46:40","guid":{"rendered":"https:\/\/prosfunds.com\/?p=56147"},"modified":"2025-04-29T13:46:41","modified_gmt":"2025-04-29T13:46:41","slug":"donald-trumps-first-100-days-mark-worst-for-us-stock-market-since-gerald-ford","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=56147","title":{"rendered":"Donald Trump\u2019s first 100 days mark worst for US stock market since Gerald Ford"},"content":{"rendered":"<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description\">Your guide to what Trump\u2019s second term means for Washington, business and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=21ff41b7-b4eb-4a51-8f8d-bfd83acf6372&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>US stocks are on course to have lost almost 8 per cent during the rollercoaster first 100 days of Donald Trump\u2019s second term \u2014 the worst start for a new administration since Gerald Ford assumed the presidency five decades ago.<\/p>\n<p>Wall Street\u2019s S&amp;P 500 was down 0.4 per cent on Tuesday morning. It has declined 8 per cent since inauguration day as Trump\u2019s aggressive trade agenda has unleashed waves of volatility that have rocked investors\u2019 faith in America\u2019s growth prospects and fuelled concerns\u00a0about a tariff-induced inflation rebound in the world\u2019s biggest economy. <\/p>\n<p>The blue-chip index, which hit a record high in mid February, last fell further over the course of a president\u2019s first 100 days in office in the second half of 1974, when Ford entered the White House following the resignation of Richard Nixon, according to Financial Times calculations based on FactSet data. <\/p>\n<p>US stocks were then caught up in a protracted sell-off driven by a recession and rapidly rising oil prices. <\/p>\n<p>Half a century later, Trump\u2019s attempts to upend the global trade system by slapping steep \u201creciprocal\u201d tariffs on most countries have plunged US financial markets into fresh turmoil, strategists and investors said.<\/p>\n<p>\u201cWe\u2019ve decided to have\u00a0a fight with every kid\u00a0in the playground at the same time,\u201d said David Kelly, chief global strategist at JPMorgan Asset Management. \u201cMarkets are telling us that there is doubt about whether the US has the advantage when they\u2019ve taken on the whole rest of the world.\u201d<\/p>\n<figure class=\"n-content-image n-content-image--full\" data-component=\"image-set\"><picture><source media=\"(min-width: 700px)\"  width=\"3500\" height=\"2500\"><\/source><source media=\"(max-width: 490px)\"  width=\"1500\" height=\"2000\"><\/source><\/picture><\/figure>\n<p>Investors have been left dazed by the barrage of trade-related announcements coming from the White House in recent months, according to George Pearkes, a macro strategist at Bespoke Investment Group.<\/p>\n<p>Stocks tumbled after Trump\u2019s sweeping tariff announcements on April 2, but have recovered much of those losses after the bulk of the levies were postponed for 90 days.<\/p>\n<p>\u201cMy model for where we are is Wile E. Coyote with his legs spinning in the air trying to figure out how big of a cliff we\u2019ve just jumped off,\u201d Pearkes said.<\/p>\n<p>The market decline this year has caught off guard most Wall Street investors who had forecast a market boom under a tax-cutting, deregulatory Republican administration. More than 10 of America\u2019s largest banks have in recent weeks slashed their end of year S&amp;P 500 price targets amid an exodus of capital from dollar-denominated assets.<\/p>\n<p>Lisa Shalett,\u00a0chief investment officer at Morgan Stanley Wealth Management, said investors \u201chave a right to feel exhausted\u201d.<\/p>\n<p>Trump\u2019s \u201cliberation day\u201d tariff blitz \u201ccatalysed the market chaos\u201d, she added, \u201cwith on again, off again tariff policies promulgating maximum uncertainty periodically punctuated by statements from the administration aimed at reassurance and de-escalation\u201d.<\/p>\n<p>Foreign investors began the year owning a record 18 per cent of US equities but have sold roughly $60bn of their holdings since the start of March, according to Goldman Sachs. European money managers have driven the bulk of the selling. <\/p>\n<p>Both the dollar and US Treasuries have also been hit by investors\u2019 response to Trump\u2019s erratic tariff announcements.<\/p>\n<p>In equity markets, recently high-flying US tech stocks have been hardest hit, both by Trump\u2019s tariffs and the emergence of Chinese AI start-up DeepSeek, which stunned investors in January when it claimed to have built a large language model for a fraction of the cost of its Silicon Valley rivals.<\/p>\n<p>In December, Tesla, Alphabet, Nvidia and Meta \u2014 members of the so-called Magnificent Seven \u2014 were among the most popular, richly valued US stocks, according to an analysis by Citigroup. <\/p>\n<p>All four have since become \u201ccrowded shorts\u201d as investors have trimmed their exposure to and in some cases begun actively betting against their shares, Citi said in a note to clients this week. \u201cAnyone who was all in on the [Magnificent Seven] has been hurt,\u201d said JPMorgan\u2019s Kelly.<\/p>\n<p>Trump himself has repeatedly dismissed the negative market reaction to some of his tariff announcements, and may have graded his first 100 days \u201con the basis of whether he\u2019s done what he said he would, rather than on whether the results have so far been good or bad\u201d, said Thierry Wizman, global foreign exchange and rates strategist at Macquarie.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/21ff41b7-b4eb-4a51-8f8d-bfd83acf6372\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the White House Watch newsletter for free Your guide to what Trump\u2019s second term means for Washington, business and the world US stocks are on course to have lost almost 8 per cent during the rollercoaster first 100 days of Donald Trump\u2019s second term \u2014 the worst start for a new administration since Gerald [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":56148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-56147","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Donald Trump\u2019s first 100 days mark worst for US stock market since Gerald Ford | Prosfunds<\/title>\n<meta name=\"description\" content=\"Unlock the White House Watch newsletter for freeYour guide to what Trump\u2019s second term means for Washington, business and the worldUS stocks are on course\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=56147\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Donald Trump\u2019s first 100 days mark worst for US stock market since Gerald Ford | Prosfunds\" \/>\n<meta property=\"og:description\" content=\"Unlock the White House Watch newsletter for freeYour guide to what Trump\u2019s second term means for Washington, business and the worldUS stocks are on course\" \/>\n<meta property=\"og:url\" content=\"https:\/\/prosfunds.com\/?p=56147\" \/>\n<meta property=\"og:site_name\" content=\"Prosfunds\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-29T13:46:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-29T13:46:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/prosfunds.com\/wp-content\/uploads\/2025\/04\/https3A2F2Fd1e00ek4ebabms.cloudfront.net2Fproduction2F65fee271-0684-40e5-98ae-27cd20653d8b.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"394\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/prosfunds.com\/?p=56147#article\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/?p=56147\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\"},\"headline\":\"Donald Trump\u2019s first 100 days mark worst for US stock market since Gerald Ford\",\"datePublished\":\"2025-04-29T13:46:40+00:00\",\"dateModified\":\"2025-04-29T13:46:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/prosfunds.com\/?p=56147\"},\"wordCount\":734,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/prosfunds.com\/?p=56147#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/prosfunds.com\/?p=56147\",\"url\":\"https:\/\/prosfunds.com\/?p=56147\",\"name\":\"Donald Trump\u2019s first 100 days mark worst for US stock market since Gerald Ford | Prosfunds\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/#website\"},\"datePublished\":\"2025-04-29T13:46:40+00:00\",\"dateModified\":\"2025-04-29T13:46:41+00:00\",\"description\":\"Unlock the White House Watch newsletter for freeYour guide to what Trump\u2019s second term means for Washington, business and the worldUS stocks are on course\",\"breadcrumb\":{\"@id\":\"https:\/\/prosfunds.com\/?p=56147#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/prosfunds.com\/?p=56147\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/prosfunds.com\/?p=56147#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/prosfunds.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Donald Trump\u2019s first 100 days mark worst for US stock market since Gerald Ford\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/prosfunds.com\/#website\",\"url\":\"https:\/\/prosfunds.com\/\",\"name\":\"Funding Factories\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/prosfunds.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/prosfunds.com\/#organization\",\"name\":\"Funding Factories\",\"url\":\"https:\/\/prosfunds.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"width\":780,\"height\":140,\"caption\":\"Funding Factories\"},\"image\":{\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/prosfunds.com\"],\"url\":\"https:\/\/prosfunds.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Donald Trump\u2019s first 100 days mark worst for US stock market since Gerald Ford | Prosfunds","description":"Unlock the White House Watch newsletter for freeYour guide to what Trump\u2019s second term means for Washington, business and the worldUS stocks are on course","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/prosfunds.com\/?p=56147","og_locale":"en_US","og_type":"article","og_title":"Donald Trump\u2019s first 100 days mark worst for US stock market since Gerald Ford | Prosfunds","og_description":"Unlock the White House Watch newsletter for freeYour guide to what Trump\u2019s second term means for Washington, business and the worldUS stocks are on course","og_url":"https:\/\/prosfunds.com\/?p=56147","og_site_name":"Prosfunds","article_published_time":"2025-04-29T13:46:40+00:00","article_modified_time":"2025-04-29T13:46:41+00:00","og_image":[{"width":700,"height":394,"url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2025\/04\/https3A2F2Fd1e00ek4ebabms.cloudfront.net2Fproduction2F65fee271-0684-40e5-98ae-27cd20653d8b.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/prosfunds.com\/?p=56147#article","isPartOf":{"@id":"https:\/\/prosfunds.com\/?p=56147"},"author":{"name":"News Room","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6"},"headline":"Donald Trump\u2019s first 100 days mark worst for US stock market since Gerald Ford","datePublished":"2025-04-29T13:46:40+00:00","dateModified":"2025-04-29T13:46:41+00:00","mainEntityOfPage":{"@id":"https:\/\/prosfunds.com\/?p=56147"},"wordCount":734,"commentCount":0,"publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/prosfunds.com\/?p=56147#respond"]}]},{"@type":"WebPage","@id":"https:\/\/prosfunds.com\/?p=56147","url":"https:\/\/prosfunds.com\/?p=56147","name":"Donald Trump\u2019s first 100 days mark worst for US stock market since Gerald Ford | Prosfunds","isPartOf":{"@id":"https:\/\/prosfunds.com\/#website"},"datePublished":"2025-04-29T13:46:40+00:00","dateModified":"2025-04-29T13:46:41+00:00","description":"Unlock the White House Watch newsletter for freeYour guide to what Trump\u2019s second term means for Washington, business and the worldUS stocks are on course","breadcrumb":{"@id":"https:\/\/prosfunds.com\/?p=56147#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/prosfunds.com\/?p=56147"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/prosfunds.com\/?p=56147#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/prosfunds.com\/"},{"@type":"ListItem","position":2,"name":"Donald Trump\u2019s first 100 days mark worst for US stock market since Gerald Ford"}]},{"@type":"WebSite","@id":"https:\/\/prosfunds.com\/#website","url":"https:\/\/prosfunds.com\/","name":"Funding Factories","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/prosfunds.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/prosfunds.com\/#organization","name":"Funding Factories","url":"https:\/\/prosfunds.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","width":780,"height":140,"caption":"Funding Factories"},"image":{"@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","caption":"News Room"},"sameAs":["https:\/\/prosfunds.com"],"url":"https:\/\/prosfunds.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/56147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56147"}],"version-history":[{"count":1,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/56147\/revisions"}],"predecessor-version":[{"id":56149,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/56147\/revisions\/56149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/media\/56148"}],"wp:attachment":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}