GOP loses in midterm elections

Trump says Americans will ‘lose a lot of money’ if GOP loses in midterm elections

By REBECCA MORIN

President Donald Trump on Wednesday warned that Americans could "lose a lot of money" if Republicans don't do well in next week's midterm elections.

The president, speaking at an event at the White House, said that the U.S. has the "hottest economy right now in the world," but said that the results of the election could hammer the stock market.

"If the midterms for some reason don't do so well for Republicans, I think you're all going to lose a lot of money," he said. "I hate to say that. I think you're going to lose a lot of money."

National Economic Council director Larry Kudlow and adviser Ivanka Trump moderated the event, which was entitled "Our Pledge to America’s Workers."

As the stock market has experienced significant gyrations in recent days, Trump has tried to cast the volatility as a reflection of concerns that Democrats will do well in the midterms, including taking control of the House.

Trump's campaign also released a slick ad on Monday that used footage from the 2008 financial crisis and suggested that handing power to Democrats would bring back sky-high unemployment.

On Wednesday, Trump said that he believes that the election will probably "come out good," but still urged people to "go out and vote."

"If it comes out good like we think it probably will, 'cause there's a good feeling in there ... If it comes out good, I think the market's gonna continue to go through a period that, like we've never seen before," Trump said.