Trump calls election selloff historic

On Nov. 5, 2026, U.S. equities sold off sharply: the S&P 500 fell about 3.2% to roughly 7,445, and the Nasdaq dropped about 4.3% to roughly 24,627. The CBOE Volatility Index, or VIX, surged more than 70% on the day, its biggest daily gain since February 2018. President Trump released a statement calling it one of the market's worst days in history and tied the fall to the midterm election results.

The selloff followed Democrats' midterm victories, but market commentary suggested the election alone did not fully explain the drop. The Kobeissi Letter argued the move was “more technical than fundamental,” driven by a sudden sentiment shift colliding with heavy leverage and forced liquidations by major institutional investors. Fresh Democratic calls to restrict advanced AI development — including talk of a “ban on artificial superintelligence” — added to tech-stock anxiety, though Kobeissi called an outright ban unlikely because it would effectively mean the U.S. surrendering its AI race po

On Nov. 5, 2026, President Trump did issue a statement calling the day's stock-market selloff one of the market's worst days in history, according to multiple reports.

Trump said the market had “one of the worst days in history” and tied it to the midterm election results, while saying people should not fear and promising America would be “bigger and stronger than ever before.”

Trump reportedly called it “one of the worst days in history,” not the single worst day in history. The post drops the qualifier “one of.” This is a forward-looking market comment/prediction about KOSPI, not a checkable factual claim.

Trump did say the market suffered “one of the Worst Days in History” following Democrats' midterm victories, according to reports. The post is a sarcastic/opaque reaction to a quoted post about Korean stock buyers; it makes no clear factual claim that can be checked.