The market is supposed to be objective and motivated only by profit but these decisions are informed by the biases of those people. Worse, it's deeply informed by what those few thousand wealthy people *think* their peers will do.

So you have people saying "no one believes Trump when he says the war is over, but we expect the market to react to what he says so we will react in anticipation of that... thus creating the reaction."

But, this doesn't go on forever.

At some point what the president says will become irrelevant to the market. His words are already irrelevant to many people, and to many nations because he simply lies far too often. It's like making investment decisions based on the output of a fortune cookie.

The previous observation that the market would be tanking with a democrat in office is based on similar circular logic. "we expect everyone else will pull out so we will move first"