On the campaign trail back in 2024, then candidate Donald Trump made big promises for the economy.

The next Trump economic boom will begin on November 5th, 2024. It's going to be a boom like no other.

And he had a special message to investors.

You better hope I win because otherwise you're going to be in 1929 territory in my opinion.

Trump rode that economic message to a decisive victory in November.

And on the heels of that victory, there were in fact some positive signs in the stock market.

Maybe not a boom, but certainly a big bump.

The Dow Jones Industrial S&P 500 and NASDAQ composites all closed at record highs the day after the election.

The market's gone through the roof.

Enthusiasm's doubled. It's doubled in the last short while.

And I watched a liberal commentator say, you know, whether you like them or not, there seems to be a beautiful light shining over a country and even over the world.

I said this. Fast forward to this week, and that beautiful light seems to have dimmed.

The S&P 500 closed in correction territory Thursday, down 10% from its recent high.

As we record, it has bounced back some, but it still looks like a fourth straight losing week.

And Trump has struck a different tone.

Here he is on Fox News last weekend.

Are you expecting a recession this year?

I hate to predict things like that.

There is a period of transition because what we're doing is very big. We're bringing wealth back to America. That's a big thing. Consider this. Trump says we can expect a little disturbance in the economy,

but he promises his tariff strategy will remake the American economy for the better.

Will it?

From NPR, I'm Elsa Chang.

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