The Dow Jones industrial average followed its worst week in a decade with a 653-point drop Monday.
As blue chips sank even deeper into the red after weeks of chaos, Trump tried to assign sole blame for the sell-off to the Federal Reserve, likening the central bank to a golfer who “can’t putt.”
“The only problem our economy has is the Fed,” the president said in a tweet. “They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!”
The three major indexes are down for the fourth consecutive session, their worst streak in more than three years. The tech-heavy Nasdaq Composite that was key to the current bull market resides in bear territory. A bear market is 20 percent off recent highs.
The Nasdaq declined 140 points, about 2.2 percent on the day.
The S&P 500 joined the Nasdaq in bear territory, down 65 points, or 2.71 percent, to close at 2,351. All 11 sectors of the S&P were down and are negative for 2018.
Utilities and energy shares were the biggest drags Monday, with energy stocks under pressure from a 35 percent decline in oil prices since October.
December is usually a healthy month for stocks, but this month has been the worst since 1931.
(c) 2018, The Washington Post · Thomas Heath, Philip Rucker ·