Biden’s First Week Records Worst Week Since October

( Remember when President Donald Trump warned that Joe Biden would crash the economy is he won the White House?

Well, it looks like he was right.

According to Yahoo! Finance, the first week of the Biden administration seriously damaged the economy, with the S&P 500 shedding 1.9% and totally wiping out all gains made in January for 2021.

“The index’s weekly loss came out to 3.3%, its worst since October. During Friday’s session, the Dow shed more than 600 points, or about 2%, to close below 30,000 for the first time in six weeks, and the Nasdaq also sank by 2%,” Yahoo! reported.

And as President Joe Biden continues to sign executive orders that cost American workers their jobs, retail traders are fighting back with “meme stocks.” Thousands of Americans came together on social media networks like Reddit to make coordinated investments in businesses not widely considered to have a great business future, including game retailer GameStop.

“GameStop (GME) shared rocketed higher by about 70% on Friday after nearly halving on Thursday,” the outlet explained.

The stock closed at $65.01 per share a week ago, but on Friday’s close, that figure rose to $328.24 per share. That’s an increase of over 400%.

Similarly, AMC Theatres, an American movie theatre chain from Kansas, benefitted from huge investments from angry retail investors looking to deprive hedge funds of their profits after shorting the brands.

The Gateway Pundit reports that in his first day in office, President Joe Biden killed off an estimated 52,100 American jobs. Biden revoked the permit to build the Keystone XL Pipeline, a project that President Donald Trump had negotiated with Canada and allowed the two nations to share fuel resources and generate tens of thousands of jobs on both sides of the border.

As Joe Biden continues to hurt the American economy, retail investors are fighting back using their retirement savings accounts and COVID stimulus checks.

Bloomberg data revealed that more than 23.6 billion shares of United States-traded stocks were exchanged last Wednesday alone, which is more in a single day than at any point in the last decade.