Biden's First 100 Days Stock Market Performance 'Top'

On the 93rd Day of Inauguration, S&P 500 Index Rises 24.1%
Surpassing Trump’s 11.4% Gain in Stock Prices
Highest Record in 75 Years

[Asia Economy New York=Correspondent Baek Jong-min] U.S. President Joe Biden is expected to be recorded as the president with the highest stock price increase during the first 100 days in office among U.S. presidents since the 1950s.

On the 26th (local time), CNBC reported that as of the 93rd day of Biden's presidency on the 23rd, the S&P 500 index's increase rate during the first 100 days in office was higher than that of any other president since the 1950s. Biden's 100th day in office will be on the 29th.

President Biden surpassed the 11.4% record set by former President Donald Trump, as well as the 12.5% by former President George H.W. Bush and 18.5% by President John F. Kennedy. This is the highest record across both the Democratic and Republican parties.

CNBC evaluated that despite Biden's tax increase policies such as raising corporate tax rates and capital gains tax rates, aggressive climate change measures, and concerns about an overheated economy, investors made tremendous bets.

The COVID-19 vaccination campaign, reminiscent of wartime efforts, along with successive announcements of large-scale economic stimulus measures and infrastructure investment plans, were also cited as factors leading to the stock market recovery.

John Normandin, an investment strategist at JPMorgan Chase, stated, "President Biden's first 100 days achieved the strongest stock market rise in 75 years, along with record-breaking fiscal stimulus."

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