Donald Trump addressed Wall Street directly during his speech in Davos, describing the previous decline as "mild" and stating that the stock market "will double." He predicted that the Dow Jones Industrial Average could reach 50,000 and then 100,000 points in a relatively short time.
Intraday Volatility: The Rally and the Reversal
While Trump was speaking, the U.S. stock market rose sharply:
◽Dow Jones: Rose 519 points (1.1%).
◽S&P 500: Gained 1.1%.
◽Nasdaq Composite: Advanced 1.2%.
However, after the speech, the euphoria faded. In just 45 minutes, the Nasdaq 100 fell 1.5% and the S&P 500 erased most of its gains, confirming the extreme volatility generated by his comments.
Crypto sector stocks continued to be weak. Circle lost 2.25%, prolonging a 63% decline over the last six months. The crypto market remains under pressure as U.S. indices attempt to stabilize.
Trump stated that external comments related to Greenland had already cost the United States money. The day closes with volatile markets, awaiting tomorrow's GDP and PCE data.
