Dave Portnoy has turned on Donald Trump yet again, twisting the knife over the plummeting stock market.
Trump’s first 100 days in the Oval Office marked the worst for the US stock market since the 1970s with it on track to have lost almost 8 percent during the opening few months of his second term.
But the president shook off any responsibility in a Truth Social post Wednesday, as he blamed his predecessor, Joe Biden, for the Wall Street chaos and denied his tariffs have played any role in the crashing stock market.
‘This is Biden’s Stock Market, not Trump’s,’ he insisted. ‘I didn’t take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden “Overhang.” This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!’
But Portnoy, who publicly backed Trump in the buildup to last November’s election, hit back at the claim, slamming the 78-year-old for blaming Biden’s ‘overhang.’
‘What’s that old expression? Don’t piss down my back and tell me it’s raining? Well that applies here,’ the Barstool Sports chief posted on X alongside a screenshot of Trump’s Truth Social rant.
Dave Portnoy has turned on Donald Trump yet again over the plummeting stock market
The president blamed the plummeting US stock market on his predecessor, Joe Biden
The Barstool Sports founder hit back at Trump for blaming the economic crisis on ‘overhang’
‘The stock market is a direct reflection of Trumps 1st 100 days in office. Doesn’t mean it won’t get better and that we don’t need to be patient, but this is his market not Bidens (sic).’
Portnoy’s attack wasn’t the first time the conservative icon has taken aim at the president over the plummeting stock market.
He has been vocal about his financial hits due to the stock market dips brought about by Trump’s controversial tariffs over the past month, and has even revealed he’d consider ditching Trump for the Democrats if America’s economy doesn’t show major improvements soon.
In an anti-MAGA rant on April 7, he admitted earlier this month that he ‘didn’t understand’ the tariffs, but was down a staggering $7million as a result, later revealing he’d actually lost close to $20m.
He went on to say that he lost 20 percent of his net worth and slammed Trump for going golfing in Florida while the country’s economy was in turmoil.
However, the fury over his finances didn’t prevent the businessman from brushing shoulders with the Commander-in-Chief in overtly friendly scenes during UFC 314 in Miami.
Portnoy received a 10-second audience with Trump at the fight night on April 12 when the president made his grand entrance at the Kaseya Center.
Trump made a high-profile entrance at the MMA showdown arriving with three of his grandchildren before making his way along a line of big names, meeting and greeting them – Portnoy among them.
The president greeted Portnoy, along with a number of high-profile names, at UFC 314
Trump made a grand arrival at the Kaseya Center for the fight night earlier this month
Portnoy shook Trump’s hand and hugged him before the pair shared a few words, with the 48-year-old later revealing that he told the Commander-in-Chief that he was a fan of his water pressure policy.
But the greeting raised eyebrows among Portnoy’s supporters with many confused over the sudden about-face coming just days after his stock market slating.
Yet, the sports media personality hit back at his critics, defending his political flipflopping.
‘I’m getting people saying, “You’re such a scumbag. You said if the economy tanks in the next four years, you’d go Democrat.” Like I’m the only one in the world who cares about the economy?,’ he said on the Barstool Rundown.
Meanwhile, Trump’s post that followed a series of 100-day wrap up pieces – including one by the Wall Street Journal editorial staff noting that it was the worst performance of the Dow Jones Industrial Average and the S&P 500 since Richard Nixon.
His call for patience comes amid a spate of polling that put his approval rating the lowest at this period for any U.S. president in decades.
His approval for this period is the worst of any president in 80 years, according to an ABC News/Washington Post/Ipsos poll.
It also showed public disapproval, sometimes as high as 60 percent, on top issues including his tariffs.
Trump’s first 100 days in the Oval Office marked the worst for the stock market since the 1970s
The stock numbers are grim, after indexes took a deep dive when Trump announced his ‘reciprocal’ tariffs . They climbed back after Trump announced a pauses and exceptions, including one timed to his Tuesday trip to Michigan that would prevent automakers from getting slapped with a double tariff of 25% each – one on auto parts, and another on steel and aluminum.
However, according to a poll from ABC – which showed Trump’s approval at just 39 percent – seventy-two percent said it is very or somewhat likely his economic policies would cause a recession, with 53 percent saying the economy has gotten worse since he took office.
And Portnoy seemingly isn’t the only conservative changing his tune as a 51 percent majority of Republicans say Trump’s policies will cause a recession.
The same poll showed Americans disapproving of his tariffs 64 to 34 percent.
