Donald Trump on the stock market: 'It's all a big bubble'
Count Donald Trump among the ranks of those who don't think too much of the stock market as a sound place to put money.
A day after making a widely watched public address on his economic plan, the Republican presidential nominee advised against betting on Wall Street.
"If rates go up, you're going to see something that's not pretty," the billionaire businessman told Fox News during a Tuesday morning phone interview. "It's all a big bubble."
Worries that the Fed has created a market bubble have shadowed the second-longest bull market in history as the central bank has kept its key rate near zero and expanded its balance sheet by $3.8 trillion in order to pump liquidity into the financial system.
The market is not anticipating a change to rates anytime soon, with traders most recently indicating just a 47.6 percent chance of a hike by the end of the year. However, the probability has been edging higher.
Trump's call comes as other big Wall Street names like Jeff Gundlach, George Soros and Carl Icahn have warned of looming market dangers. However, the stock market gauge is up 6.7 percent this year.
Trump noted that he has dabbled in the market successfully — "I did like 50 stocks just for fun, because I'm not a person that really believes in it too much," he told Fox — but cautioned against it.
"I wouldn't do it," he said.
Supreme Court takes up Trump order to remove undocumented immigrants from population count
Doctors say CDC should warn people the side effects from Covid vaccine won't be 'a walk in the park'
This teen's business is bringing in 6 figures—here's her advice for other small business owners
Psychological difference between spenders and savers (and what it says about your personality)
Black Friday shopping in stores craters 52% during pandemic as e-commerce sales surge