The stock market has taken a plunge, but Fox's Chad Pergram explains this is not unusual.
I'm Chad Pergram with the Speaker's Lobby.
It's typical for markets to climb the year after the presidential election and then decline dramatically the next year, the year of the midterm election. And the question on Capitol Hill now is how the market fall-off may impact this November.
Democratic Maryland Senator Chris Van Hollen is in charge of Senate Democratic re-election efforts. Van Hollen contends the election will focus on pocket book issues. Republican Colorado Senator Cory Gardner is Van Hollen's G.O.P. counterpart.
Gardner also hopes the election is on pocket book issues. Gardner cites low unemployment and higher wages. Gardner says quote "If some tycoon on Wall Street had a bad day they don't give a rat's behind", he didn't use that word. He continues, "If Jeff Bezos loses $9 billion, the steel worker in Pueblo isn't losing sleep."
Democratic West Virginia Senator Joe Manchin faces a competitive re-election bid this fall. Manchin echoed President Trump's concerns about interest rates and the Fed. The narrative of the midterms changed three times in the past few days. That's why they often talk in politics about an "October Surprise" just before an election.
Well, it's October. And it's FULL of surprises.
With the Speaker's Lobby, Chad Pergram. Fox News.
Follow Chad Pergram on Twitter: @ChadPergram