By Joe Hoft
The DOW Jones Industrial Average (the DOW) opened today under 30,000 points as the Biden economy shows its colors.
The DOW opened this morning at less than 30,000 points. When Biden took over the markets were above 31,000 points.
The DOW is down more than 1,000 points since when Joe Biden took office!
The DOW is one measurement of the US markets that indicates the health of the economy.
President Trump broke the record for the most stock market highs in a year in 2017, the year he took over the Executive Branch. President Trump’s economy was on fire.
There were more stock market highs (71) in 2017, Trump’s first year as President, than any year in history.
Sadly, the Biden Administration is the complete opposite. After nearly 2 years in office, the DOW is down more than 1,000 points since the day Biden stepped into office after stealing the 2020 Election.
On January 20, 2021, the DOW closed at 31,188. Last night the DOW closed at 30,077. This morning the DOW opened at less than 30,000.
As of 10:30 am Eastern, the DOW stood at 29,630.
Americans are watching their 401k’s disappear due to the Biden economy because most 401k’s are connected to the stock markets in the US which are taking a royal beating now that Biden’s policies are being realized.
The DOW is currently down 5% since Biden took office. It is down 24% since the last market closing all-time high of 36,799 on January 4th of 2022.
The DOW is currently down more than 6,500 points this year alone (the DOW was at 36,338 on December 31, 2021).
If this decrease stands till year-end, this decrease will be the largest decrease of any year in US history.