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Capitol Report: Trump says stock selloff a ‘big mistake’ because economy ‘great,’ but that’s exactly why investors are nervous

Reuters
President Donald Trump is unhappy about the stock market selloff. He says investors are making “a big mistake.”

President Trump has complained that a selloff in stock markets is a “big mistake” because all the news about the U.S. economy is “great,” but that’s exactly why investors are worried.

The stunning plunge in stocks on Monday and Thursdaywere triggered by last week’s monthly U.S. jobs report that showed worker pay rising at the fastest pace since 2009. Faster wage growth is sometimes an omen of higher inflation.

Wall Street frets that higher inflation will force the Federal Reserve to jack up interest rates, making bonds TMUBMUSD10Y, -0.10% more attractive than stocks DJIA, -4.15%SPX, -3.75% and slowing the U.S.

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