As President Trump wraps up his first 100 days back in office, markets are flashing red. The S&P 500 is down 7.8% since Inauguration Day — making this the worst 100-day start for any U.S. president since Richard Nixon in 1973. For investors, that’s a striking comparison that raises concerns about policy stability, geopolitical pressures, and market confidence under the new administration.
What makes this even more notable is how it stacks up against recent history. By this point in his presidency, Joe Biden was up 10.9%, enjoying one of the best market starts in decades. The contrast highlights how sharply sentiment has shifted — whether due to trade tensions, tariff battles, interest rate uncertainty, or overall investor unease.
To be clear, 100 days is a small sample in the lifespan of a presidency. But markets are forward-looking, and early losses often reflect deeper anxieties about leadership direction and macro policy signals.