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marketwatch_top apr 23, 2026

Trump is swaying the market like no president has in decades, analysis shows

Analysis shows President Trump is driving stock market moves in his second term.

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trump is moving markets more than any president in decades, according to new analysis. the data shows he's been the direct driver behind both the best and worst days for stocks in his second term — not economic data or fed policy. the analysis looked at daily market moves and matched them to trump's public statements and policy announcements. on the upside, his tariff pauses and deal signals have triggered sharp rallies. on the downside, sudden trade escalations and threats have produced some of the steepest single-day drops of his term. the pattern is unusual. typically, markets react more to jobs reports, inflation data, or fed decisions. but in this term, trump's own words are consistently the biggest catalyst — for gains and losses alike.
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