A record high stock market rally fueled by bullish optimism over a possible Trump administration led by a new president is now being fueled by fears of the same-old economic stagnation and the rise of a populist populism.
The Dow Jones Industrial Average has soared nearly 10,000 points since the start of the year, outpacing the S&P 500 by more than 100 points.
The S&P 500 rose nearly 3,000 for a fourth straight day.
The stock market has also been buoyed by optimism about a potential Trump administration.
On Friday, Trump’s team said it was “proud to be joining forces with Democrats to bring back manufacturing jobs to our country.”
“I’m a proud American and proud of the country we live in,” Trump said Friday, before calling on Democrats to support his agenda.
“We’re going to be rebuilding our economy and we’re going at a pace that no one in the history of the world has ever done it before.
We’re going after the cartels and we are going to take care of our people, including the vets and the military,” he added.
The administration’s proposed tax cut proposal is one of the most aggressive pieces of legislation on the horizon that would help companies and individuals alike.
Trump, who has long promised a massive infrastructure plan, has promised to cut taxes and cut spending on education and welfare.
Democrats have criticized the proposed tax cuts for benefiting wealthy investors, especially hedge fund managers and private equity managers.
Trump has said he would cut taxes for those earning more than $5 million and eliminate the estate tax.
But Democrats have said that Trump’s proposal would benefit the wealthy and corporations that would leave the middle class behind.
Trump’s team has said it would invest $2 trillion in infrastructure.
That would be the largest infrastructure investment in US history.
In the latest news, a group of US hedge fund investors announced they were exiting the fund over fears of a potential economic crisis.
The New York Times said on Friday that the hedge fund Elliott Management LLC is leaving the Elliott Liberty Fund, which is led by former Trump campaign manager Corey Lewandowski.
“It is time to move on,” the Times said.
“The time to put aside our personal grudges and get back to work is now.”
The move is part of a broader strategy by Elliott Management to exit US funds in response to the rise in the stock market and the government’s stimulus package.
Elliott Management has invested $1.4 billion in US funds.
The move follows Elliott’s exit from the funds of several other US funds that are in turmoil.
The news comes as the government has announced a new stimulus package that will be announced Friday.
As of Friday, the economy is expected to expand at a 0.8 percent annual pace.