Trump’s Right About Your 401(k). But Hey, Thanksgiving Gas May Be Cheaper

Newsweek · David Averre · 2026-11-06 13:34 UTC

Trump was celebrating Americans’ booming retirement accounts on Wednesday. By Thursday, he was blaming the Dems for wrecking them.

Donald Trump was celebrating Americans’ booming retirement accounts on Wednesday. By Thursday, he was blaming the Democrats for wrecking them.

"Your 401(k)s have, therefore, dropped," the president complained on Truth Social after Wall Street suffered its worst sell-off since April 2025. "Remember, it wasn’t Republicans, it was Dumocrats."

This time, Trump has a point. A day after Democrats trounced Republicans at the midterm elections, investors began questioning whether the artificial intelligence boom that has powered Wall Street’s extraordinary growth under the Trump administration can continue apace. Much of the concern centers on the Democrats’ increasingly hostile attitude toward data centers—the enormous, electricity-hungry facilities underpinning AI development.

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