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S. stock prices have still been declining sharply in the six months since President Donald Trump’s inauguration. The world’s largest bank stocks were closed below $90 a share on Thursday. Merrill Lynch stock went as low as $50.7 in early trading as a day after he left office.

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Citigroup and Fidelity’s FOMC held the smallest gains in the Dow Jones industrial average. Meanwhile, Goldman Sachs and Commonwealth Capital Inc’s Fidelity Group Inc closed in double digits. The list of Wall Street fumbles begins with Trump. Shortly before his inauguration, Trump pledged to support the National Interest Fund, a newly created interest-industry group formed by its Democratic billionaire donors to promote more protectionist foreign policy. It also funded the anti-Obamacare post-9/11 “reform” talks.

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A year years later, Trump bragged that his controversial travel ban would shrink the federal government Source bring the size of the federal bureaucracy down. While no reports have suggested Trump would back away from hardline anti-immigration initiatives, Trump is not very common on campaign trail. Trump’s success with investors was key to the fund’s long-term success. JPMorgan Chase declined after just one year of investments in America’s largest Wall Street bank, which backed Trump’s other conservative credentials. The S&P 500 declined 63 percent.

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The Nasdaq gave up its biggest gains in over a year by nearly 14 percentage points since January. Shares of Chinese stocks plunged, as did the short-term impact of U.S. trade sanctions and pro-Brexit sentiment that emerged from Brexit. In recent weeks, billionaire investors like John Byrne, an investment banker and avid Trump supporter, have argued the financial crisis was just a speculative one.

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Trump’s insistence that many investors should be “run through” from an economic catastrophe is seen by some as a step back from his central tenet: the financial institutions themselves would be insolvent and have no liquidity. Such criticism has failed as investors have suffered losses. Investors have shifted to other sectors (including hedge funds and blue-chip companies) and are now more likely to invest in those services than in physical stocks. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions.

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I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.