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217

Trump brushes off Iran war’s cost at home: ‘I don’t think about Americans’ financial situation’ (www.independent.co.uk)

submitted 20 hours ago by throws_lemy@reddthat.com to c/news@lemmy.world

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[–] tal@lemmy.today 10 points 20 hours ago* (last edited 20 hours ago) (1 children)

“Anybody that wants them to have a nuclear weapon is a stupid person. So we said we're going to take the greatest stock market in history and we're going to go down a little bit. And actually that turned out to be incorrect, because our stock market is now at the highest point in history, which frankly, surprised a lot of people,” he said.

The stock market is up because of the AI boom. Trump didn't have much to do with the AI boom.

https://finance.yahoo.com/markets/stocks/articles/ai-stocks-drive-nearly-p-094305210.html

AI Stocks Drive Nearly All of S&P 500’s Gains, Data Reveals

The S&P 500 has surged to fresh record highs in 2026, powering through milestone after milestone as Wall Street toasts another banner year.

Strip out the artificial intelligence stocks, though, and the rally all but disappears, leaving a market that has gone essentially nowhere since February.

S&P 500 ex-AI Index Flat Since February as Benchmark Climbs 8%

BeInCrypto recently reported that AI-linked stocks now account for a record 45% of the S&P 500’s market capitalization. Strong rallies in hyperscalers and AI-related stocks have helped push the index higher, as investors continue betting on the sector’s long-term growth potential.

The S&P 500 has climbed nearly 7% since early February. While the war-driven volatility caused notable losses in March, the rally accelerated in April, with the index gaining 15.5% since March 30.

However, the gains have not been evenly distributed across the market. According to Google Finance data, the US 500 Excluding Artificial Intelligence Enablers Price Return Index (SPXXAI) has fallen 1.84% since its February launch.

For Trump, that was luck

he happened to be in the right place at the right time to benefit from that.

[–] Quetzalcutlass@lemmy.world 2 points 17 hours ago* (last edited 17 hours ago)

Hey now, Trump appointed Musk and DOGE to hollow out all the regulatory agencies that could have prevented the AI bubble from getting so big, so he at least deserves the credit for how bad things will become once it finally collapses.